Financial Results : SAL net profit doubles to SAR 208.5M in Q1 2024

SAL net profit doubles to SAR 208.5M in Q1 2024

12/05/2024 Argaam Exclusive

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SAL Saudi Logistics Services Co.'s net profit nearly doubled to SAR 208.5 million in Q1 2024, compared to SAR 104.4 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 339.97 452.53 33.1 %
Gross Income 179.96 260.98 45.0 %
Operating Income 123.00 227.35 84.8 %
Net Income 104.35 208.45 99.8 %
Average Shares 80.00 80.00 -
EPS (Riyals) 1.30 2.61 99.8 %

Revenues increased by 33.1% on higher earnings of ground handling, volume of freight handling, and logistics solutions by 24.4%, 31.5%, and 89%, respectively.

 

The company attributed the profit growth to the continuous focus on controlling costs and investing in available liquidity.

 

On a sequential basis, the bottom line grew 15.4% from SAR 180.58 million in Q4 2023.

 

Shareholders’ equity, no minority interest, reached SAR 1.32 billion as of Dec. 31, 2023, up from SAR 1.04 million a year earlier.

Attached Documents:

 

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