Future Care H1 2024 net profit down 13% to SAR 5.1M

29/08/2024 Argaam Exclusive

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Future Care Trading Co. posted SAR 5.1 million in net profit for H1 2024, a decline of 13% from SAR 5.9 million a year ago.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	23.04	24.96	8.4 %
Gross Income	11.61	9.98	(14.0 %)
Operating Income	5.50	3.55	(35.4 %)
Net Income	5.89	5.15	(12.6 %)
Average Shares	500.00	500.00	-
EPS (Halala)	1.18	1.03	(12.6 %)

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	23.04	24.96	8.4 %
Gross Income	11.61	9.98	(14.0 %)
Operating Income	5.50	3.55	(35.4 %)
Net Income	5.89	5.15	(12.6 %)
Average Shares	500.00	500.00	-
EPS (Halala)	1.18	1.03	(12.6 %)

Item	H2 2023	H1 2024	Change‬
Revenues	27.95	24.96	(10.7 %)
Gross Income	9.29	9.98	7.4 %
Operating Income	7.34	3.55	(51.6 %)
Net Income	7.77	5.15	(33.8 %)
Average Shares	500.00	500.00	-
EPS (Halala)	1.55	1.03	(33.8 %)

The company attributed the profit decline to a rise in payrolls due to the increase in the number of employees amid expansion in branches.

This came despite the rise in revenues following the signing of new contracts and expansion in the scope of clients with insurance firms.

Shareholders equity (no minority rights) amounted to SAR 78.8 million, compared to SAR 65.2 million in the prior-year period.

Historical Data
Period	Revenues (SAR mln)	Net Profit (SAR mln)	EPS (Halala/share)
H1 2024	41.07	20.06	4.01
H2 2021	30.96	16.64	3.33
H1 2022	15.04	4.77	0.95
H2 2022	19.09	0.36	0.07
H1 2023	23.04	5.89	1.18
H2 2023	27.94	7.77	1.55
H1 2024	24.96	5.15	1.03

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