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It’s the last mile for this earnings season on Tadawul’s main market and parallel market Nomu as we approach the 31 March deadline for the reporting of 4Q 2023 results.
AVALON PHARMA-
Tadawul-listed Avalon Pharma’s net income grew 10.7% y-o-y to SAR 65.8 mn in 2023, it said in a disclosure to Tadawul. Revenues were up 11.8% y-o-y to SAR 338.4 mn over the same period. The pharma giant attributed the rise in net income to higher revenues driven by increased sales volumes and a reversal of expected credit loss provision by SAR 1.6 mn despite an uptick in financing costs.
SAVOLA-
Savola’s net income rose 21.1% y-o-y to SAR 899.2 mn in 2023, it said in a disclosure to Tadawul. Revenues were down 4.4% y-o-y to SAR 26.8 bn. The Kingdom’s largest food products company attributed the rise in net income to higher income from its food processing, retail and frozen food segments and a higher share of income from associates.
JAMJOOM-
Jamjoom Pharma’s net income grew 70.7% y-o-y to SAR 292 mn in 2023, it said in a filing to Tadawul. Revenues were up 20% to SAR 1.1 bn.
JABAL OMAR-
Jabal Omar Development turned into the black with a net income of SAR 37.6 mn in 2023, up from a net loss of SAR 352 mn. Meanwhile, revenues were up 56% y-o-y to SAR 1.3 bn, it said in a disclosure to Tadawul. The company made a correction to the net income.
NOFOTH-
Nofoth Food Products’ net income was up 35.5% y-o-y to SAR 42.7 mn in 2023, and revenues rose 14% y-o-y to SAR 308 mn, it said in a disclosure to Tadawul.
NETWORKERS-
Saudi Networkers Services’ net income increased 21.5% y-o-y to SAR 36.6 mn in 2023, and revenues rose 15.9% y-o-y to SAR 554.7 mn, it said in a disclosure to Tadawul.
Meanwhile, the company has approved a dividend payout of SAR 14 mn for 2H 2023 at SAR 2.4 per share, it said in a separate disclosure.
AME-
AME Company for Medical Supplies’ net income was up 25.6% y-o-y to SAR 33.5 mn in 2023, and its revenues rose 15.6% to SAR 223.3 mn, it said in a disclosure to Tadawul.
Meanwhile, the company has approved a dividend payout of SAR 14 mn at SAR 2 per share for 2023, it said in a separate disclosure.
SAUDI GROUND SERVICES-
Saudi Ground Services turned into the black with a net income of SAR 211.5 mn in 2023, up from a net loss of SAR 244.5 mn in the previous year, it said in a filing to Tadawul.
MAKKAH CONSTRUCTION-
Makkah Construction and Development’s net income doubled y-o-y to SAR 334 mn in 2023, it said in a regulatory filing to Tadawul.
Meanwhile, the developer has recommended a dividend payout of SAR 247 mn at SAR 1.5 a share for 2023, it said in a separate filing to the exchange.
BASIC CHEMICAL INDUSTRIES-
Basic Chemical Industries’ net income fell 37.5% y-o-yto SAR 44 mn in 2023, while its revenues were up 10% to SAR 741 mn, it said in a disclosure to Tadawul.
MOUWASAT MEDICAL SERVICES-
Mouwasat Medical Services’ net income climbed 9.7% y-o-y to SAR 657.7 mn in 2023, while its revenues jumped 15.9% y-o-y to SAR 2.7 bn, it said in a disclosure to Tadawul.
AL JOUF CEMENT (AJCC)-
Al Jouf Cement (AJCC)’s net income nearly tripled to SAR 84.7 mn in 2023, while its revenues were up 19.7% to SAR 301.5 mn, it said in a disclosure to Tadawul.
BUDGET SAUDI-
Automobiles rental firm United International Transportation (Budget Saudi)’s net income rose 10% y-o-y to SAR 277.2 mn in 2023, while its revenues grew 34.4% y-o-y to SAR 1.4 bn, it said in a disclosure to Tadawul. Their BoD has recommended a dividend payout of SAR 71.2 mn at SAR 1 per share, it said in a separate disclosure.
SADAFCO-
Food manufacturer Saudia Dairy and Foodstuff Co (SADAFCO)’s net income was up 47.2% y-o-y to SAR 325 mn in 9M ending in December, while its revenues grew by 6.7% y-o-y to SAR 2.1 bn, according to a disclosure to Tadawul.
