Munawla Cargo Co. reported a net profit of SAR 9.7 million in 2022, an increase of 27% year-on-year (YoY) from SAR 7.6 million in a year earlier period.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 131.76 | 138.91 | 5.4 % |
| Gross Income | 25.13 | 24.77 | (1.4 %) |
| Operating Income | 8.25 | 10.09 | 22.4 % |
| Net Income | 7.58 | 9.66 | 27.5 % |
| Average Shares | 1.00 | 1.00 | - |
| EPS (Riyals) | 7.58 | 9.66 | 27.5 % |
This was driven by a 5.42% year-on-year (YoY) jump in revenue to SAR 139 million, a YoY hike of 19% in gross profit margins and increased other revenue. This came despite higher financing costs as well as operating, administrative and general expenses.
Shareholders’ equity, no minority interest, reached SAR 32.95 million by the end of 2022, compared to SAR 25.36 million the year before.
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