‎“Ladun” profits decreased to SR60 mln during 2022, by 25.5%‎

Ladun Investment Company revealed a decrease in net profit after zakat and tax during the year ending on December 31, 2022 to 60.1 million riyals, compared to 80.8 million riyals in the previous year, by 25.5%. This came after today’s announcement of the annual financial results ending in 12-31-2022.

Operational profit amounted to 77.4 million riyals during the year ending on December 31, 2022, compared to 35.8 million riyals in the previous year, with a growth of 115.7%.

Total shareholders’ equity “without minority rights” amounted to 551.9 million riyals in the current year, compared to 516.6 million riyals in the previous year, an increase of 6.8%.

Earnings per share in the current year reached 1.2 riyals, compared to 1.62 riyals in the previous year.

– The decrease in net profit by (26%) for the year 2022 AD compared to the previous year 2021 AD due to the inclusion of a non-recurring profit from the sale of investment in a subsidiary with a value of (57,580,259) riyals in the previous period, and in the event of excluding the effect of non-recurring profit to compare Performance The company achieved a growth in profits from continuing business amounting to (36,970,251) riyals, equivalent to a growth rate of (159%), as the net profit in the year 2022 AD amounted to (60,190,210) Saudi riyals compared to the net profit from continuing business in the year 2021 AD amounting to ( 23,219,959) riyals “after excluding the impact of the non-recurring profit from selling the investment in a subsidiary company.”

Reasons for improved performance Among the main businesses of the group for the current period are the following:

1- Increasing revenues by starting new projects with good profit margins

2- Improvement in the implementation of existing projects

3- Operational efficiency through cost management

4- Starting production in a number of the company’s factories