Leen Alkhair profits down 26% to SAR 8 mln in H1 2023

Leen Alkhair profits down 26% to SAR 8 mln in H1 2023

31/08/2023 Argaam Exclusive

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Leen Alkhair Trading Co.’s net profit retreated 26% to SAR 8 million in H1 2023 from SAR 10.8 million a year earlier.  



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 109.59 117.72 7.4 %
Gross Income 18.81 15.16 (19.4 %)
Operating Income 11.83 8.84 (25.3 %)
Net Income 10.84 7.98 (26.4 %)
Average Shares 7.34 8.16 11.1 %
EPS (Riyals) 1.48 0.98 (33.8 %)

The company attributed the decrease in profit to higher costs of purchasing fruits and vegetables as well as an increase in shipping, packaging, and transportation costs.

 

This was despite an increase in the sales of vegetables and fruits by 7% year-on-year (YoY) to SAR 118 million.

 

Higher sales were supported by increased sales volume and prices of fruits and vegetables, in addition to an improvement in distribution channels. This was offset by a 14% increase YoY in sales costs because of higher transportation and shipping costs.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 109.59 117.72 7.4 %
Gross Income 18.81 15.16 (19.4 %)
Operating Income 11.83 8.84 (25.3 %)
Net Income 10.84 7.98 (26.4 %)
Average Shares 7.34 8.16 11.1 %
EPS (Riyals) 1.48 0.98 (33.8 %)

Total shareholders’ equity, no minority interest, reached SAR 142.23 million by the end of June 30, 2023, compared to SAR 95.15 million a year earlier.

 

                                                                  Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

91.19

14.25

3.49

H2 2021

97.37

6.21

1.52

H1 2022

109.59

10.84

2.95

H2 2022

118.98

12.34

3.02

H1 2023

117.72

7.98

1.95

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 91.19 - 23.89 - 15.61 -
H2 2021 97.37 - 9.02 - 7.22 -
H1 2022 109.59 20.2 % 18.81 (21.3 %) 11.83 (24.2 %)
H2 2022 118.98 22.2 % 22.02 144.1 % 13.34 84.8 %
H1 2023 117.72 7.4 % 15.16 (19.4 %) 8.84 (25.3 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 14.25 - 1.94 - 14.25 1.94
H2 2021 6.21 - 0.85 (5.00) 11.21 1.53
H1 2022 10.84 (23.9 %) 1.48 - 10.84 1.48
H2 2022 12.33 98.8 % 1.68 - 12.33 1.68
H1 2023 7.98 (26.4 %) 0.98 - 7.98 0.98

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 17.45 % 12.96 % 13.50 %
H1 2022 13.45 % 10.64 % 10.65 %
H2 2022 17.86 % 12.76 % 10.14 %
H1 2023 15.71 % 11.36 % 8.58 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 - - - -
H2 2020 - - - -
H1 2021 7.34 - - 10.49
H2 2021 7.34 2.79 3.47 11.48
H1 2022 7.34 2.32 3.00 12.96
H2 2022 7.34 3.16 3.16 14.67
H1 2023 8.16 2.49 2.49 17.43

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 - - -
H1 2023 12.74 12.74 1.82


Financial Ratios
Current
Market Cap (M Riyal) 187.03
Enterprise Value (EV) (M) 276.65
Shares Outstanding ((M)) 8.16
Book Value (BV) ( Riyal) 17.92
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 15.60
Price/book 1.28
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Share Price

Leen Alkhair Trading Co.
22.92
0.00 0.00 %

Leen Alkhair Trading Co. (LEEN ALKHAIR)

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