Astra achieves profits of SAR 475.3 mln in 2023

Astra Industrial Company recorded a net profit during the year ending December 31, 2023, in the amount of 475.3 million riyals, compared to 474.3 million riyals in 2022, an increase of 0.21%. This came after today’s announcement of the estimated annual financial results ending on December 31, 2023.

Operating profit during the year ending December 31, 2023 amounted to 531.2 million riyals, compared to 395.6 million riyals in 2022, an increase of 34.2%.

The total equity (after excluding non-controlling interests) during the current period amounted to 2.12 billion riyals, compared to 1.85 riyals for the previous period, an increase of 15%.

Earnings per share in the current year reached 5.94 riyals, compared to 5.93 riyals last year.

According to the Company, the Increase in Sales in the following sectors:

a) Pharmaceuticals

b) Steel industries

c) Other

Net profit Increases in general due to:

1. Increase in Sales and Gross Profit in the following sectors:

a) Pharmaceuticals

b) Steel Industries

2. Decrease in net financing cost in the other sector.

3. Decrease in general and administrative expenses in the following sectors:

a) Other

b) Specialty chemical

While noting that similar period during last year included gain from discontinued operation.