Modern Mills profit up 4% to SAR 109.5M in H1 2024, Q2 at SAR 44.5M

30/07/2024 Argaam Exclusive

Modern Mills for Food Products Co. (Modern Mills) posted a rise of 4% in H1 2024 net profit to SAR 109.5 million, from SAR 105.2 million in the year-earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 451.98 480.79 6.4 %
Gross Income 172.26 180.51 4.8 %
Operating Income 130.08 132.34 1.7 %
Net Income 105.24 109.49 4.0 %
Average Shares 81.83 81.83 -
EPS (Riyals) 1.29 1.34 4.0 %

Revenues rose due to the increase in market share, geographical expansion and launch of new products. However, brans revenue slipped on prioritization of feed business.

 

Net profit was also supported by the launch of new products, favorable product mix and additional income generated from efficient cash management.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 199.73 222.99 11.6 %
Gross Income 69.28 81.39 17.5 %
Operating Income 53.42 55.66 4.2 %
Net Income 41.13 44.51 8.2 %
Average Shares 81.83 81.83 -
EPS (Riyals) 0.50 0.54 8.2 %

Q2 2024 net profit grew 8% to SAR 44.5 million from SAR 41.1 million in Q2 2023.

 

Sequentially, net profit fell 31.5% in Q2 2024 from SAR 64.98 million in Q1 2024.

 

Shareholders’ equity, no minority interest, reached SAR 243.88 million as of June 30, 2024, compared to SAR 213.66 million a year earlier.

View More Financial Results

 

View other reports

Share Price

Modern Mills for Food Products Co.
40.65
(0.05) (0.12 %)

Modern Mills for Food Products Co. (MODERN MILLS)

More


Financial Ratios
Current
Market Cap (M Riyal) 3,326.47
Enterprise Value (EV) (M) 3,826.63
Shares Outstanding ((M)) 81.83
EPS ( Riyal) (TTM) 2.55
Book Value (BV) ( Riyal) 2.58
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 15.92
P/E (TTM) 15.92
Price/book 15.75
Return on Average Assets (%) (TTM) 17.4
Return on Average Equity (%) (TTM) 88.4
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request