Baazeem Trading Co. reported a slight fall in 2023 net profit to SAR 21.7 million, compared to SAR 21.8 million in 2022.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 263.35 | 257.11 | (2.4 %) |
| Gross Income | 97.88 | 98.92 | 1.1 % |
| Operating Income | 26.92 | 25.52 | (5.2 %) |
| Net Income | 21.78 | 21.65 | (0.6 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 2.15 | 2.14 | (0.6 %) |
The profit decline was attributed to lower sales amid the out-of-stock, driven by the latest development in the Red Sea.
In Q4 2023, net profit declined 5% year-on-year (YoY) to SAR 4.1 million.
Compared to the previous quarter, net profit grew 5% from SAR 3.90 million.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 67.25 | 61.86 | (8.0 %) |
| Gross Income | 25.74 | 27.02 | 5.0 % |
| Operating Income | 6.19 | 4.74 | (23.5 %) |
| Net Income | 4.29 | 4.09 | (4.6 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.42 | 0.40 | (4.6 %) |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 60.46 | 61.86 | 2.3 % |
| Gross Income | 20.24 | 27.02 | 33.5 % |
| Operating Income | 4.90 | 4.74 | (3.2 %) |
| Net Income | 3.90 | 4.09 | 5.0 % |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.38 | 0.40 | 5.0 % |
Total shareholders’ equity, no minority interest, rose to SAR 194.05 million as of Dec. 31, 2023, from SAR 190.38 million a year earlier.
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