“Raoom” profits rise to SR 46.6 million by the end of 2023 by 52%

The net profit after zakat and tax for Raoom Trading Company during the year ending in 2023 rose to 46.57 million riyals, compared to 31 million riyals last year, by 52%. This came after today’s announcement of the annual financial results ending on December 31, 2023.

Operating profit reached 31 million riyals during the year ending in 2023, compared to 34 million riyals in 2022, a decline of 10%.

Earnings per share in the current year amounted to 7.45 riyals, compared to 4.92 riyals last year.

The company maintained revenues at approximately 135 million riyals during the current year, a slight decrease of 0.14% from the previous year.

The company achieved an operating profit of 30.9 million Saudi riyals, compared to 34.14 million Saudi riyals, a decrease of 9.58% from the previous year as a result of an increase in general and administrative expenses as a result of incurring additional professional fees expenses related to the company’s conclusion of a non-binding memorandum of understanding to acquire an asset, which was canceled during the current year.

The company achieved a net profit of 46.8 million riyals, compared to 30.7 million riyals during the previous year, an increase of 52.1%, mainly due to achieving non-recurring profits from short-term investments.

The company also maintained revenues at approximately 135 million Saudi riyals during the current year, a slight decrease of 0.14% from the previous year.

The company achieved an operating profit of 30.9 million Saudi riyals, compared to 34.14 million Saudi riyals, a decrease of 9.58% from the previous year as a result of an increase in general and administrative expenses as a result of incurring additional professional fees expenses related to the company’s conclusion of a non-binding memorandum of understanding to acquire an asset, which was canceled during the current year. .

The company achieved a net profit of 46.8 million riyals, compared to 30.7 million riyals during the previous year, an increase of 52.1%, mainly due to achieving non-recurring profits from short-term investments.