Riyadh - Mubasher: Intelligent Oud's net profits after Zakat and tax surged by 128.63% in the first half (H1) of 2023, reaching SAR 720,995 from SAR 315,355 in the same period of the previous year, according to a bourse discloser.
In H1-23, the revenues increased by 10.75% year-over-year (YoY) to SAR 7.89 million from SAR 7.12 million.
In addition, the earnings per share (EPS) rose significantly in H1-23 to SAR 55 from SAR 24 in H1-22.
The company's improved profitability was due to higher sales and lower operating expenses.
In June 2023, the Capital Market Authority (CMA) agreed for Intelligent Oud to go public on the Nomu Parallel Market of the Saudi Exchange (Tadawul) by offering 325,000 shares. Meanwhile, the firm commenced trading on 2 October this year.
