Al Khorayef’s (2081) net profit increased by 4% YoY at the end of 2022.
Al Khorayef’s sales increased by 44.46% in 2022, which led to an increase in its annual profits.
The company indicated that net profit increased in 2022 despite the increase in Murabaha financing contract fees by 410% due to the increase in the interest rate globally and the financing of new projects.
The company saw an increase in the allowance for credit losses from SAR 2.9 to SAR 6.3 million in 2022.
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