Tharwah profit rises marginally to SAR 4.8M in H1 2024

29/09/2024 Argaam Exclusive

Altharwah Albashariyyah Co. (Tharwah) reported a net profit of SAR 4.81 million for the six-month period ended June 30, 2024, compared to SAR 4.79 million in the year-earlier period.

 



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 30.97 35.91 15.9 %
Gross Income 13.66 14.49 6.1 %
Operating Income 4.99 5.27 5.6 %
Net Income 4.79 4.81 0.4 %
Average Shares 1.06 4.00 -
EPS (Riyals) 4.53 1.20 (73.5 %)

The company reported revenue growth of 15.9% year-on-year (YoY) to SAR 35.9 million during the first six months of 2024, primarily driven by increased company activities and higher sales volume.

 

Meanwhile, direct costs associated with some of the company's projects increased during this period.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 30.97 35.91 15.9 %
Gross Income 13.66 14.49 6.1 %
Operating Income 4.99 5.27 5.6 %
Net Income 4.79 4.81 0.4 %
Average Shares 1.06 4.00 -
EPS (Riyals) 4.53 1.20 (73.5 %)

The company’s H1 2024 net profit jumped 59.1% YoY from SAR 11.75 million in H2 2023.

 

Total shareholders’ equity, no minority interest, reached SAR 36.70 million by June 30, 2024, compared to SAR 15.23 million in the prior-year period.

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Share Price

Altharwah Albashariyyah Co.
51.90
(0.10) (0.19 %)

Altharwah Albashariyyah Co. (THARWAH)

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Financial Ratios
Current
Market Cap (M Riyal) 244.23
Enterprise Value (EV) (M) 230.99
Shares Outstanding ((M)) 4.71
Book Value (BV) ( Riyal) 7.97
Par Value ( Riyal) 5.00
Adjusted P/E (Last12) 14.77
Price/book 7.66
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