Riyadh – Mubasher: Almunajem Foods Company achieved net profits after Zakat and tax worth SAR 282.20 million in 2023, signalling a 2.75% decline from SAR 290.20 million in 2022.
The earnings per share (EPS) went down to SAR 4.70 at the end of December 2023 when compared with SAR 4.85 in the year-ago period, according to the income statements.
The revenues increased by 11.27% year-on-year (YoY) to SAR 3.31 billion in 2023 from SAR 2.97 million.
Financial Results for Fourth Quarter
During the fourth quarter (Q4) of 2023, Almunajem Foods witnessed a 382.84% jump in net profit to SAR 81.60 million from SAR 16.90 million in Q4-22.
The revenues also rose by 10.88% to SAR 829.20 million during the October-December 2023 period from SAR 747.80 million in the corresponding period a year earlier.
On a quarterly basis, the net profits in Q4-23 were 33.55% higher than SAR 61.10 million in Q3-23, while the revenues were up by 2.25% from SAR 810.90 million.
During the first nine months (9M) of 2023, the listed firm recorded SAR 200.60 million in net profit while its revenues reached SAR 2.48 billion.
