Financial Results : Anaam net profit jumps 38% to SAR 4.6M in Q1 2024

Anaam net profit jumps 38% to SAR 4.6M in Q1 2024

19/05/2024 Argaam Exclusive

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Anaam International Holding Group reported a net profit of SAR 4.6 million for Q1 2024, a 38% increase from SAR 3.3 million in the year-earlier period, amid gains from discontinued operations.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 10.97 11.52 5.0 %
Gross Income 6.38 7.03 10.1 %
Operating Income 2.01 1.80 (10.4 %)
Net Income 3.33 4.59 37.8 %
Average Shares 630.00 630.00 -
EPS (Halala) 0.53 0.73 37.8 %

On a quarterly basis, net earnings dropped 24.6% from SAR 6.09 million in Q4 2023, on lower revenue of Saudi Wasit Factory for Entertainment & Beauty Systems and higher profit generated from fair value investments.

 

Shareholders’ equity, excluding minority interest, reached SAR 290.63 million by March 31, 2024, compared to SAR 277.99 million in the prior-year period.

 

The company’s accumulated losses reached SAR 24.36 million by March 31, 2024, accounting for 7.7% of capital.

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