Fitaihi's H1 2024 net profit spikes to SAR 10.1M; Q2 at SAR 8M

08/08/2024 Argaam Exclusive

Fitaihi Holding Group posted SAR 10.06 million net profit for H1 2024, a rise of 114% compared to SAR 4.69 million in the prior-year period, according to a statement to Tadawul.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 28.70 19.65 (31.5 %)
Gross Income 12.97 8.26 (36.3 %)
Operating Income (0.58) (4.15) (611.6 %)
Net Income 4.70 10.07 114.4 %
Average Shares 275.00 275.00 -
EPS (Riyals) 0.02 0.04 114.4 %

The company's Q2 net profit amounted to SAR 8.03 million, up 161% year-on-year from SAR 3.07 million.

 

The company attributed the profit rise to an increase in dividend distributions from equity instruments at fair value, coupled with generating profit from the results of an associate by SAR 8.2 million, as well as a decline in selling, distribution, general & administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 10.44 10.79 3.3 %
Gross Income 4.59 4.02 (12.3 %)
Operating Income (2.04) (2.08) (2.2 %)
Net Income 3.08 8.03 161.0 %
Average Shares 275.00 275.00 -
EPS (Riyals) 0.01 0.03 161.0 %

Shareholders' equity (no minority interest) amounted to SAR 469.445 million, compared to SAR 458.148 million in the same period a year ago.

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Share Price

Fitaihi Holding Group
4.07
(0.02) (0.49 %)

Fitaihi Holding Group (FITAIHI GROUP)

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Financial Ratios
Current
Market Cap (M Riyal) 1,119.25
Enterprise Value (EV) (M) 1,113.27
Shares Outstanding ((M)) 275.00
EPS ( Riyal) (TTM) 0.04
Book Value (BV) ( Riyal) 1.71
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 2.38
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 2.6
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