Marble Design profits increased to SAR 10.6 million during H1 by 8.5%

Marble Design Factory Company announced an increase in net profit after zakat and tax during the first half to SAR 10.6 million, compared to SAR 9.8 million in the same half of last year, by 8.5%. This came after the announcement on Sunday of the interim financial results for the period ended on June 30 (six months).

The operating profit amounted to 10.1 million riyals in the first half, compared to 10.5 million riyals in the same half of the previous year, a decrease of 4%.

The total shareholders’ equity “without minority rights” amounted to SAR 97.7 million in the 6-month period, compared to SAR 95.2 million in the same period last year, an increase of 2.5%.

Earnings per share in the current period reached SAR 1.77, compared to SAR 1.63 in the same period last year.

Increase in net profit for current period compared to previous period is attributed to:

Increased revenues from main operating activities to reach SAR 26,793,279 compared to SAR 25,274,210 for the same period of the previous year, a growth of 6.01%

Other revenues increased by SAR 881,679 by 428.69% compared to the same period of the previous year due to: Selling two lands located in Al-Aziziyah district in Riyadh.

The reason for the decrease in operating profit by SAR 442,404 by 4.186% is due to the increase in general and marketing expenses by SAR 1,803,820 by 31.43% compared to the same period of the previous year, mainly due to: Increasing additional expenses resulting from listing the company in the parallel market (Nomu).