Taiba Investments Co. net profit jumped to SAR 200.1 million in H1 2024, from SAR 89.6 million a year ago.
Item | 6m 2023 | 6m 2024 | Change |
---|---|---|---|
Revenues | 242.07 | 709.47 | 193.1 % |
Gross Income | 165.99 | 302.62 | 82.3 % |
Operating Income | 129.63 | 234.52 | 80.9 % |
Net Income | 89.63 | 200.08 | 123.2 % |
Average Shares | 160.46 | 260.46 | 62.3 % |
EPS (Riyals) | 0.56 | 0.77 | 37.5 % |
Revenues increased following the acquisition of Dur Hospitality Co. as earnings from operations and hotel activities grew. The company also cited a rise in the number of pilgrims and visitors, in addition to the numerous events and conferences held in Riyadh during this period.
As a result, operating profit rose 81% year-on-year (YoY).
Item | Q2 2023 | Q2 2024 | Change |
---|---|---|---|
Revenues | 131.12 | 377.40 | 187.8 % |
Gross Income | 91.84 | 150.02 | 63.4 % |
Operating Income | 70.85 | 114.47 | 61.6 % |
Net Income | 27.56 | 89.58 | 225.0 % |
Average Shares | 160.46 | 260.46 | 62.3 % |
EPS (Riyals) | 0.17 | 0.34 | 100.2 % |
Item | Q1 2024 | Q2 2024 | Change |
---|---|---|---|
Revenues | 332.07 | 377.40 | 13.7 % |
Gross Income | 152.60 | 150.02 | (1.7 %) |
Operating Income | 120.05 | 114.47 | (4.6 %) |
Net Income | 110.50 | 89.58 | (18.9 %) |
Average Shares | 260.46 | 260.46 | - |
EPS (Riyals) | 0.42 | 0.34 | (18.9 %) |
The company reported a net profit of SAR 89.6 million in Q2 2024, up 225% from SAR 27.56 million in Q2 2023.
On a quarterly basis, Q2 net profit fell 18.9% from SAR 110.5 million in Q1 2024.
Shareholders’ equity, after minority interest, reached SAR 6.60 billion by June 30, 2024, compared to SAR 3.85 billion in the prior-year period.
Company | Estimated | Actual | Change |
---|---|---|---|
CENOMI RETAIL | (1.00) | 81.00 | 8,200.0 % |
MIS | 19.43 | 43.00 | 121.3 % |
MAADEN | 826.50 | 1,024.02 | 23.9 % |
BINDAWOOD | 64.50 | 72.65 | 12.6 % |
SPIMACO | 36.00 | 34.00 | (5.6 %) |
ALARABIA | 90.43 | 47.32 | (47.7 %) |
Company | Estimated | Actual | Change |
---|---|---|---|
CENOMI RETAIL | (1.00) | 81.00 | 8,200.0 % |
MIS | 19.43 | 43.00 | 121.3 % |
MAADEN | 826.50 | 1,024.02 | 23.9 % |
BINDAWOOD | 64.50 | 72.65 | 12.6 % |
TANMIAH | 23.00 | 24.00 | 4.3 % |
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