Al-Omran Industrial Trading Co. turned to a net profit of SAR 127,000 in Q1 2024, against a net profit of SAR 633,000 in the year-earlier period.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 41.43 | 47.92 | 15.6 % |
| Gross Income | 6.22 | 7.29 | 17.2 % |
| Operating Income | 0.74 | 0.97 | 30.6 % |
| Net Income | (0.63) | 0.13 | 120.0 % |
| Average Shares | 6.00 | 12.00 | 100.0 % |
| EPS (Riyals) | (0.11) | 0.01 | 110.0 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 20.81 | 47.92 | 130.3 % |
| Gross Income | 2.97 | 7.29 | 145.1 % |
| Operating Income | (4.34) | 0.97 | 122.3 % |
| Net Income | (7.00) | 0.13 | 101.8 % |
| Average Shares | 12.00 | 12.00 | - |
| EPS (Riyals) | (0.58) | 0.01 | 101.8 % |
The profit growth was spurred by strong sales from reactivating sales with old customers, adding some reputable customers to the company’s customer list, and opening new markets.
The company also cited a 15.60% year-on-year (YoY) leap in sales value, with the ratio of cost of sales to sales and expense ratio remaining stable.
Compared to Q4 2023, the company turned profitable from a loss of SAR 7 million, mainly driven by higher sales.
Shareholders’ equity reached SAR 158.83 million as of March 31, 2024, compared to SAR 114.29 million in the year-earlier period.
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