Riyadh – Mubasher: The net profits after Zakat and tax of Arabian Centres Company (Cenomi Centers) hit SAR 725.10 million in the first half (H1) of 2023, an annual surge of 103.28% from SAR 356.70 million.
In the six-month period that ended on 30 June 2023, the revenues climbed by 5.54% year-on-year (YoY) to SAR 1.14 billion from SAR 1.08 billion, according to the interim financial results.
Earnings per share (EPS) amounted to SAR 1.52 in H1-23, compared to SAR 0.75 in H1-22.
Financial Statements for Q2-23
Cenomi Centers posted 82.31% YoY higher net profits after Zakat and tax at SAR 337.10 million in the second quarter (Q2) of 2023, versus SAR 184.90 million.
Revenues totalled SAR 565.30 million in April-June 2023, up 0.43% from SAR 562.90 million a year earlier.
On a quarterly basis, the Q2-23 profits plummeted by 13.12% from SAR 388 million in Q1-23, while the revenues declined by 1.99% from SAR 576.80 million.
Alison Rehill-Erguven, CEO of Cenomi Centers, commented: “The results demonstrate the efficacy of our strategy to deliver continuous growth by offering Saudi shoppers, who continue to increase their spending as the economy grows, the experiences they desire.”
She noted: “This can be seen by the exceptional footfall, which increased 33.50% year on year to 63.10 million, which I expect will lead us to a new post-pandemic record level.”
“We also saw strong rental revenue growth of 7.80% and a 19.30% increase in [earnings before interest, taxes, depreciation, and amortisation] EBITDA,” Rehill-Erguven added.
In the same vein, the CEO announced a half-yearly cash dividends disbursement of SAR 413.25 million, which was approved by the board last month.
