Catrion Catering Holding Co. (CATRION) reported a 25% increase in Q1 2024 net profit to SAR 71.2 million, from SAR 57.1 million in the year-earlier period.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 521.58 | 552.81 | 6.0 % |
| Gross Income | 142.65 | 152.46 | 6.9 % |
| Operating Income | 62.28 | 68.37 | 9.8 % |
| Net Income | 57.13 | 71.23 | 24.7 % |
| Average Shares | 82.00 | 82.00 | - |
| EPS (Riyals) | 0.70 | 0.87 | 24.7 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 549.13 | 552.81 | 0.7 % |
| Gross Income | 142.19 | 152.46 | 7.2 % |
| Operating Income | 72.19 | 68.37 | (5.3 %) |
| Net Income | 69.45 | 71.23 | 2.6 % |
| Average Shares | 82.00 | 82.00 | - |
| EPS (Riyals) | 0.85 | 0.87 | 2.6 % |
The profit growth was spurred by a 6% year-on-year (YoY) rise in revenues on flight catering and higher sales.
In addition, gross profit amounted to SAR 152.5 million during the three-month period, up 6.9% YoY from SAR 142.6 million.
Operating profit reached SAR 71.9 million by the end of Q1 2024, rising 10.4% YoY from SAR 65.2 million.
Compared to Q4 2023, the first-quarter net profit rose 2.6% from SAR 69.45 million, mainly due to a 0.7% hike in revenues to SAR 552.8 million and a 7.2% increase in gross profit to SAR 152.5 million.
Shareholders’ equity, no minority interest, reached SAR 1.26 billion by March 31, 2024, compared to SAR 1.13 billion in the year-earlier period.
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