Qomel profit rises to SAR 11M in H1 2024

08/08/2024 Argaam Exclusive

Qomel Co.’s net profit more than doubled to SAR 11 million in H1 2024, up from SAR 5.2 million in the year-earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 44.03 58.56 33.0 %
Gross Income 11.99 19.64 63.9 %
Operating Income 7.16 12.60 75.9 %
Net Income 5.21 11.01 111.0 %
Average Shares 3.00 3.50 16.7 %
EPS (Riyals) 1.74 3.14 80.9 %

The company attributed this growth to higher revenues, which rose by SAR 14.5 million or 32.9% year-on-year (YoY) to SAR 58.56, primarily due to higher sales and the addition of newly registered products.

 

Additionally, operating profit improved due to increased sales of high-margin products, revenue from new products with favorable profit margins, an enhanced gross profit margin, and reduced financing costs compared to the year-ago period.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 44.03 58.56 33.0 %
Gross Income 11.99 19.64 63.9 %
Operating Income 7.16 12.60 75.9 %
Net Income 5.21 11.01 111.0 %
Average Shares 3.00 3.50 16.7 %
EPS (Riyals) 1.74 3.14 80.9 %

Total shareholders’ equity, no minority interest, jumped to SAR 94.10 million as of June 30, 2024, from SAR 37.85 million a year earlier.

 

Interim Data History

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2022

39.77

6.55

2.18

H2 2022

37.95

6.15

2.05

H1 2023

44.03

5.22

1.74

H2 2023

61.44

12.37

4.12

H1 2024

58.56

11.01

3.52

 

View more financial results

 

View other reports

Share Price

Qomel Co.
103.00
(1.00) (0.96 %)

Qomel Co. (QOMEL)

More


Financial Ratios
Current
Market Cap (M Riyal) 360.50
Enterprise Value (EV) (M) 369.34
Shares Outstanding ((M)) 3.50
Book Value (BV) ( Riyal) 15.17
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 20.49
Price/book 7.92
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