Maharah Human Resources Co. posted a net profit of SAR 100.4 million for the nine-month period ended Sept. 30, 2023, a fall of 12% from SAR 113.9 million in the year-earlier period.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 1,200.81 | 1,396.11 | 16.3 % |
| Gross Income | 163.44 | 178.50 | 9.2 % |
| Operating Income | 83.15 | 81.97 | (1.4 %) |
| Net Income | 113.94 | 100.37 | (11.9 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.24 | 0.21 | (11.9 %) |
The profit growth was driven by a 16% revenue rise, backed by some of the main segments, including the corporate and hourly services whose revenues increased by 28% and 15%, respectively compared to the same period of the previous year.
In contrast, the individual segment's revenues decreased by 14% year-on-year (YoY) due to the implementation of price ceilings for individual services in accordance with the applied regulations.
Gross profit increased by 9% YoY, mainly driven by improved results of some key segments, including the corporate segment, hourly services segment, and facility management.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 416.28 | 471.49 | 13.3 % |
| Gross Income | 58.37 | 56.81 | (2.7 %) |
| Operating Income | 30.02 | 19.66 | (34.5 %) |
| Net Income | 61.93 | 24.60 | (60.3 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.13 | 0.05 | (60.3 %) |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 462.59 | 471.49 | 1.9 % |
| Gross Income | 64.94 | 56.81 | (12.5 %) |
| Operating Income | 32.15 | 19.66 | (38.8 %) |
| Net Income | 39.30 | 24.60 | (37.4 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.08 | 0.05 | (37.4 %) |
In Q3 2023, net profit fell 60% to SAR 24.6 million from SAR 61.9 million a year earlier, mainly due to a 13% rise in revenues backed by some main segments, including the corporate and hourly services whose revenues grew by 22% and 18% YoY, respectively.
On a sequential basis, Q3 2023 net profit dropped 37.4% from SAR 39.30 million.
Shareholders’ equity, after minority interest, amounted to SAR 620.58 million at the end of the nine-month period, from SAR 561.24 million a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}