Balady Poultry profit up 79% to SAR 71.9M in H1 2024, Q2 at SAR 31.3M

25/07/2024 Argaam Exclusive

Balady Poultry Trading Co. reported a net profit of SAR 71.9 million in H1 2024, a 79% increase from SAR 40.3 million a year earlier.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 344.56 449.63 30.5 %
Gross Income 48.56 82.20 69.3 %
Operating Income 36.85 68.33 85.4 %
Net Income 40.27 71.94 78.6 %
Average Shares 6.57 6.57 -
EPS (Riyals) 6.13 10.95 78.6 %

The company’s sales and revenues rose in H1 2024 by 30.49% to about SAR 449.6 from SAR 344.5 million in H1 2023.

 

The average daily production during H1 2024 reached 194,000 birds per day from 152,000 daily birds in H1 2023.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 344.56 449.63 30.5 %
Gross Income 48.56 82.20 69.3 %
Operating Income 36.85 68.33 85.4 %
Net Income 40.27 71.94 78.6 %
Average Shares 6.57 6.57 -
EPS (Riyals) 6.13 10.95 78.6 %

In Q2 2024, the company’s net profit grew 96.5% to SAR 31.33 million from SAR 15.94 million in the prior year-period.

 

Sequentially, the Saudi-listed firm’s profit fell by 22.9% from SAR 40.6 million.

 

Shareholders' equity, no minority interest, amounted to SAR 275.6 million at the end of H1 2024, compared to SAR 170.9 million at the end of H1 2023.

 

Historical Data

Period

Revenue

(SAR mln)

Net profit

(SAR mln)

EPS

(SAR)

H1 2021

162.83

9.23

1.40

H2 2021

194.67

11.31

1.73

H1 2022

278.61

36.25

5.52

H2 2022

362.67

48.85

7.43

H1 2023

344.56

40.27

6.13

H2 2023

413.16

60.64

9.23

H1 2024

449.63

71.93

10.95

 

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Share Price

Balady Poultry Trading Co.
399.00
5.00 1.27 %

Balady Poultry Trading Co. (BALADY)

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Financial Ratios
Current
Market Cap (M Riyal) 2,621.43
Enterprise Value (EV) (M) 2,530.62
Shares Outstanding ((M)) 6.57
Book Value (BV) ( Riyal) 32.00
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 25.98
Price/book 12.47
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