It’s officially the end of the 2023 earnings season with Tadawul-listed companies having until the end of trading hours today to disclose their 2023 results.

ALHOKAIR GROUP-

Alhokair Group accumulated net losses worth SAR 89.6 mn in 2023 — a 9.9% y-o-y increase — while revenues were up 2.9% y-o-y to SAR 742 mn, they said in a disclosure to Tadawul. The company’s auditors have raised a going-concern flag, noting that “the Group’s current liabilities exceeded its current assets by SAR 309.5 mn” as of year-end.

Turnaround plan coming? The Tadawul filing notes that the company is “developing a strategic transformation program that will be announced later” and that it will look to exit “poorly performing projects that generate operational losses.”

RED SEA INTERNATIONAL-

Red Sea International is in the black after reporting SAR 2 mn in net income in 2023 — from net losses of SAR 198 mn in the previous year — and has registered a 241% y-o-y surge in revenues to SAR 1.4 bn, according to a disclosure to Tadawul.

ZAMIL INDUSTRIAL INVESTMENT-

Zamil Industrial Investment accumulated SAR 298 mn in net losses in 2023 — a 67% y-o-y increase — while its revenues rose 19.3% y-o-y to SAR 4.7 bn, according to a disclosure to Tadawul.

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