Riyadh – Mubasher: The net profits after Zakat and tax of Morabaha Marina Financing Company hit SAR 28.50 million in the first half (H1) of 2023, an annual rise of 7.97% from SAR 26.39 million.
During the six-month period that ended on 30 June 2023, the revenues increased by 9.65% year-on-year (YoY) to SAR 83.53 million from SAR 76.18 million, according to the initial financial statements.
Earnings per share (EPS) amounted to SAR 0.26 in H1-23, compared to SAR 0.55 in H1-22.
Financial Results for Q2-23
The Saudi firm generated 5.41% YoY higher net profits after Zakat and tax at SAR 13.29 million in the second quarter (Q2) of 2023, versus SAR 12.61 million.
Revenues stood at SAR 40.18 million in the April-June 2023 period, up 4.91% from SAR 38.30 million a year earlier.
On a quarterly basis, the Q2-23 profits plummeted by 12.56% from SAR 15.20 million in Q1-23, while the revenues declined by 9.10% from SAR 44.21 million.
Last June, Morabaha Marina commenced the trading of its shares on the Saudi Exchange (Tadawul) after the Capital Market Authority (CMA) greenlighted its initial public offering (IPO) in December 2022.
