Riyadh – Mubasher: Morabaha Marina Financing Company posted a 31.11% year-on-year (YoY) drop in net profit to SAR 31 million in 2023 from SAR 45 million.

The company’s revenues grew 7.15% YoY to SAR 169.40 million last year from SAR 158.10 million, according to the annual financial results.

The earnings per share (EPS) reached SAR 0.60 in the 12-month period that ended on 31 December 2023, up from SAR 1.07 in 2022.

During the first nine months (9M) of 2023, Morabaha Marina recorded an annual marginal rise in net profit to SAR 36.44 million from SAR 36.30 million.