Almawarid Manpower Full Year 2023 Earnings: EPS Misses Expectations

Almawarid Manpower (TADAWUL:1833) Full Year 2023 Results

Key Financial Results

• Revenue: ر.س1.26b (up 34% from FY 2022).
• Net income: ر.س88.8m (up 17% from FY 2022).
• Profit margin: 7.0% (down from 8.0% in FY 2022). The decrease in margin was driven by higher expenses.
• EPS: ر.س5.92 (up from ر.س5.07 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Almawarid Manpower EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.0%.

Looking ahead, revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Professional Services industry in Asia.

Performance of the market in Saudi Arabia.

The company's shares are down 2.5% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Almawarid Manpower's balance sheet and an in-depth analysis of the company's financial position.

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