{"id":84184,"date":"2024-03-10T00:00:00","date_gmt":"2024-03-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/10\/a-flurry-of-earnings-reports\/"},"modified":"2024-03-10T00:00:00","modified_gmt":"2024-03-10T00:00:00","slug":"a-flurry-of-earnings-reports","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/10\/a-flurry-of-earnings-reports\/","title":{"rendered":"A flurry of earnings reports"},"content":{"rendered":"

Strap in and get ready for a quick overview:<\/strong><\/p>\n

\n

SACO-<\/p>\n

Saudi Company for Hardware<\/a><\/strong>\u2019s net losses fell 51% y-o-y to SAR 69 mn in 2023<\/strong>, while revenues declined 18.2% y-o-y to SAR 930 mn over the same period, it said in a disclosure to Tadawu<\/a>l<\/a>. The company\u2019s BoD has advised against paying dividends for FY 2023 to improve its finances, it said in a separate disclosure.<\/a>.<\/p>\n

\n

TAWUNIYA-<\/p>\n

Tawuniya<\/a><\/strong>\u2019s <\/strong>net<\/strong> income doubled y-o-y to SAR 616 mn in 2023<\/strong>, while revenues were up 34% y-o-y to SAR 15.3 bn over the same period, it said in a disclosure to Tadawul<\/a>.<\/p>\n

\n

SHL FINANCE-<\/p>\n

SHL Finance<\/a><\/strong>\u2019s net income decreased 97.6% y-o-y to SAR 2.3 mn in 2023<\/strong>, and revenues were down 44% y-o-y to SAR 94 mn over the same period, it said in a disclosure to Tadawul<\/a>.<\/p>\n

\n

ALANDALUS-<\/p>\n

Alandalus Property<\/a><\/strong>\u2019s net income decreased 45.5% y-o-y to SAR 36.4 mn in 2023<\/strong>, while revenues were basically unchanged, falling 0.4% y-o-y to SAR 215 mn over the same period, it said in a disclosure to Tadaw<\/a>ul<\/a>. The company\u2019s BoD has approved a dividend payout of SAR 23.3 mn at SAR 0.25 per share for 2H 2023, it said in a separate disclosure<\/a>. Payments will be made to eligible shareholders on Tuesday, 26 March.<\/p>\n

\n

RIYADH CABLES-<\/p>\n

Riyadh Cables Group<\/a><\/strong>\u2019s <\/strong>net<\/strong> income increased 47% y-o-y to SAR 519 mn in 2023<\/strong>, while revenues were up 14% y-o-y to SAR 7.8 bn over the same period, it said in a disclosure to Tadawul<\/a>. The company\u2019s BoD has recommended a dividend payout of SAR 224.6 mn at SAR 1.5 per share for 2H 2023, it said in a separate disclosure<\/a>.<\/p>\n

\n

MARAFIQ-<\/p>\n

Power and Water Utility Company for Jubail and Yanbu<\/a><\/strong>\u2019s net income decreased <\/strong>38% y-o-y to SAR 526 mn in 2023<\/strong>, while revenues fell 1.8% y-o-y to SAR 6.4 bn over the same period, it said in a disclosure to Tadawul<\/a>.<\/p>\n

\n

THIMAR-<\/p>\n

Thimar Development Holding<\/strong>\u2019s net losses doubled y-o-y to SAR 6.5 mn in 2023, <\/strong>and it made zero revenues last year, according to a disclosure to Tadawul<\/a>. The accumulated losses have exceeded the company\u2019s entire capital for the third year in a row, explaining the ongoing financial restructuring, according to an audit report (pdf)<\/a>.<\/p>\n

\n

SAUDI CEMENT-<\/p>\n

Saudi Cement<\/a><\/strong>\u2019s <\/strong>net<\/strong> income decreased 4.5% y-o-y to SAR 381 mn in 2023<\/strong>, while revenues were up 3% y-o-y to SAR 1.5 bn over the same period, it said in a disclosure to Tadawul<\/a>.<\/p>\n

\n

MESC-<\/p>\n

Middle East Specialized Cables<\/a><\/strong> has turned into the black with a net income of SAR 49 <\/strong>mn in 2023<\/strong>, while revenues were up 13.8% y-o-y to SAR 927 mn over the same period, it said in a disclosure to Tadawul<\/a>.<\/p>\n

\n

ARABIAN PIPES COMPANY-<\/p>\n

Arabian Pipes<\/a><\/strong> has turned into the black with a net income of SAR 132 mn in 2023<\/strong>, while revenues doubled to SAR 1 bn over the same period, it said in a disclosure to Tadawul<\/a>.<\/p>\n

\n

ALAKARIA-<\/p>\n

Saudi Real Estate<\/a><\/strong>\u2019s <\/strong>net<\/strong> income fell 39% y-o-y to SAR 67.6 mn in 2023<\/strong>, and revenues were down 11.6% y-o-y to SAR 1.8 bn over the same period, it said in a disclosure to Tadawul<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

SACO | Tawuniya | SHL Finance | Alandalus | Riyadh Cables | Marafiq | Thimar | Saudi Cement | MESC | Arabian Pipes | Alakaria<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2607],"tags":[2752,285,10,2452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84184","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-capital-market","tag-earnings-watch","tag-enterpriseam-ksa","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"5837584a-1136-4f47-a1a8-7909941cc3fb","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"A flurry of earnings reports","related_issue":[84171],"teaser":"SACO | Tawuniya | SHL Finance | Alandalus | Riyadh Cables | Marafiq | Thimar | Saudi Cement | MESC | Arabian Pipes | Alakaria","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.61661f8a-c3be-4d47-82f9-8d9bb81e4af4.mp3"},"yoast_head":"\nA flurry of earnings reports - 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