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SIPCHEM-
Sahara International Petrochemical’s net income fell 67% y-o-y to SAR 1.2 bn in 2023 due to a decline in sales and selling prices, it said in a disclosure to Tadawul. Revenues decreased 26% y-o-y to SAR 7.6 bn over the same period. On a quarterly basis, Sipchem’s bottom line fell 67% y-o-y to SAR 159 mn in 4Q 2023, while its top line was up 4.3% y-o-y to SAR 2 bn over the same period, according to data seen by Argaam.
SAL LOGISTICS-
SAL Saudi Logistics Services’ net income rose 41% y-o-y to SAR 510 mn in 2023, while revenues increased 19% y-o-y to SAR 1.5 bn over the same period, it said in an earnings release. The logistics company attributed the bottom line increase to a 11.7% rise in cargo handling volume. On a quarterly basis, SAL’s bottom line grew 60% y-o-y to SAR 180.6 mn in 4Q 2023, while its top line was up 16.5% y-o-y to SAR 411 mn over the same period, according to data seen by Argaam.
Dividend payouts for 4Q: The board has proposed a dividend payout of SAR 121 mn at SAR 1.51 per share for 4Q 2023, it said in a disclosure to Tadawul. Investors can cash out within 15 days from Thursday, 7 March. (SAL posted a correction on Tadawul for the dividend payout date) This brings the total amount of dividends for 2023 to SAR 352 mn at SAR 4.4 per share.
AMAK-
Al Masane Al Kobra Mining’s (AMAK) net income fell 56.8% y-o-y to SAR 54.6 mn in 2023, while revenues were down 16.3% y-o-y to SAR 487.9 mn over the same period, it said in a disclosure to Tadawul yesterday. On a quarterly basis, SAL’s bottom-line fell 72.4% y-o-y to SAR 5.9 mn in 4Q 2023, while its top line was down 26% y-o-y to SAR 114.8 mn over the same period, according to data seen by Argaam.
