Saudi Call Trading Co. reported a net profit of SAR 16.1 million in the first nine months of 2022, a 4% increase from SAR 15.5 million a year earlier.
Item | 9m 2021 | 9m 2022 | Change |
---|---|---|---|
Revenues | 43.77 | 56.20 | 28.4 % |
Gross Income | 20.09 | 23.14 | 15.2 % |
Operating Income | 15.01 | 16.06 | 7.0 % |
Net Income | 15.55 | 16.14 | 3.8 % |
Average Shares | 4.50 | 4.50 | - |
EPS (Riyals) | 3.45 | 3.59 | 3.8 % |
The increase in profit is driven by higher revenue, which reached SAR 56.2 million from SAR 43.8 million in the same period a year earlier as sales and marketing revenue rose 15.5 million (representing 42% of the company's total revenue).
Meanwhile, other income increased to SAR 1.4 million compared to SAR 0.6 million for the same period in 2021.
The increase in net profit was partially offset by a 39% increase in general and administrative expenses, an increase in financing costs to SAR 810,000 from SAR 64,000 for the same period, recording Zakat expense of SAR 510,000 during the current period and lower revenues of the installation segment by 8%, which represents 58% of the company's revenues.
Shareholders’ equity, no minority interest, stood at SAR 57.07 million by the end of September 2022, compared to SAR 50.15 million a year earlier.
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