{"id":84883,"date":"2024-03-31T00:00:00","date_gmt":"2024-03-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/31\/the-last-gasp-of-2023-earnings-season\/"},"modified":"2024-03-31T00:00:00","modified_gmt":"2024-03-31T00:00:00","slug":"the-last-gasp-of-2023-earnings-season","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/31\/the-last-gasp-of-2023-earnings-season\/","title":{"rendered":"The last gasp of 2023 earnings season"},"content":{"rendered":"

It\u2019s officially the end of the 2023 earnings season <\/strong>with Tadawul-listed companies having until the end of trading hours today to disclose their 2023 results. <\/p>\n

\n

ALHOKAIR GROUP-<\/p>\n

Alhokair Group accumulated net losses worth SAR 89.6 mn in 2023 \u2014 a 9.9% y-o-y <\/strong>increase \u2014 <\/strong>while revenues were up 2.9% y-o-y to SAR 742 mn, they said in a disclosure to Tadawul<\/a>. The company\u2019s auditors have raised a going-concern flag, noting that \u201cthe Group\u2019s current liabilities exceeded its current assets by SAR 309.5 mn\u201d as of year-end. <\/p>\n

Turnaround plan coming? <\/strong>The Tadawul filing notes that the company is \u201cdeveloping a strategic transformation program that will be announced later\u201d and that it will look to exit \u201cpoorly performing projects that generate operational losses.\u201d<\/p>\n

\n

RED SEA INTERNATIONAL-<\/p>\n

Red Sea International is in the black after reporting SAR 2 mn in net income in <\/strong>2023 <\/strong>\u2014 from net losses of SAR 198 mn in the previous year \u2014 and has registered a 241% y-o-y surge in revenues to SAR 1.4 bn, according to a disclosure to Tadawul<\/a>. <\/p>\n

\n

ZAMIL INDUSTRIAL INVESTMENT-<\/p>\n

Zamil Industrial Investment accumulated <\/strong>SAR 298<\/strong> mn in net losses in 2023<\/strong> \u2014 a 67% y-o-y increase \u2014 while its revenues rose 19.3% y-o-y to SAR 4.7 bn, according to a disclosure to Tadawul<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Alhokair Group | Zamil Industrial Investment | Red Sea International<\/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":[93,285,10,2689,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84883","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-aviation","tag-earnings-watch","tag-enterpriseam-ksa","tag-investment","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"daadee0f-e818-49cb-89e5-8e011bd25e1e","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"Earnings season for 2023 wraps up today","related_issue":[84871],"teaser":"Alhokair Group | Zamil Industrial Investment | Red Sea International","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.77871112-405a-414c-baa3-c229583f0b13.mp3"},"yoast_head":"\nThe last gasp of 2023 earnings season - 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