Meyar widens H1 2024 loss to SAR 2.5M

29/08/2024 Argaam Exclusive

Meyar Co. increased its net loss in H1 2024 to SAR 2.5 million from SAR 799,000 in the first half of 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 17.07 17.90 4.9 %
Gross Income 1.92 1.04 (45.7 %)
Operating Income (1.44) (1.98) (37.3 %)
Net Income (0.80) (2.52) (215.1 %)
Average Shares 1.33 1.33 -
EPS (Riyals) (0.60) (1.90) (215.1 %)


Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 17.07 17.90 4.9 %
Gross Income 1.92 1.04 (45.7 %)
Operating Income (1.44) (1.98) (37.3 %)
Net Income (0.80) (2.52) (215.1 %)
Average Shares 1.33 1.33 -
EPS (Riyals) (0.60) (1.90) (215.1 %)

The losses were attributed to higher salaries, wages, and the like, due to an increase in the number of equipment during the period. This is in addition to a rise in assets and costs resulting from the establishment and operation of the North Riyadh Ready Mix Concrete Factory. The average value of cement grew from SAR 170 per ton to SAR 201.

 

However, the company posted higher prices of products sold from the second month in the period.

 

Total shareholders’ equity, no minority interest, rose to SAR 34.23 million as of June 30, 2024, from SAR 34.63 million a year earlier.

 

Historical Data

Period

Revenues

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

20.05

1.97

1.85

H2 2021

21.24

2.48

2.34

H1 2022

19.96

3.18

2.99

H2 2022

18.11

1.28

1.21

H1 2023

17.07

(0.80)

(0.60)

H2 2023

17.07

2.29

1.73

H1 2024

17.90

(2.51)

(1.91)

 

View More Financial Results

 

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Share Price

Meyar Co.
66.90
3.40 5.35 %

Meyar Co. (MEYAR)

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Financial Ratios
Current
Market Cap (M Riyal) 88.78
Enterprise Value (EV) (M) -
Shares Outstanding ((M)) 1.33
Book Value (BV) ( Riyal) 27.62
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
Price/book 2.42
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