Financial Results : MRNA’s earnings grow 8% to SAR 40.1 mln in 9M 2023; Q3 down 12% at SAR 9.4 mln

MRNA’s earnings grow 8% to SAR 40.1 mln in 9M 2023; Q3 down 12% at SAR 9.4 mln

30/10/2023 Argaam Exclusive

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Morabaha Marina Financing Co.’s (MRNA) net profit increased 8% to SAR 40.1 million for the first nine months of 2023, compared to SAR 37.1 million in the year-earlier period.



Financials (M)

Item 9m 2022 9m 2023 Change‬
Net income from finance commissions 94.91 91.68 (3.4 %)
Net Income 37.14 40.05 7.8 %
Average Shares 50.00 71.43 42.9 %
Earnings Per Share before unusual items 0.74 0.56 (24.5 %)
EPS (Riyals) 0.74 0.56 (24.5 %)

The year-on-year (YoY) profit surge was attributed to higher special commission income and other revenues.



Current Quarter Comparison (M)

Compared With The
Item Q3 2022 Q3 2023 Change‬
Net income from finance commissions 30.11 29.09 (3.4 %)
Net Income 10.66 9.44 (11.5 %)
Average Shares 50.00 71.43 42.9 %
Earnings Per Share before unusual items 0.21 0.13 (38.0 %)
EPS (Riyals) 0.21 0.13 (38.0 %)

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