MC4 9M 2024 net profit rises to SAR 128.8M; Q3 at SAR 47.1M

31/10/2024 Argaam Exclusive

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Fourth Milling Co. (MC4) reported a net profit of SAR 128.8 million for the first nine months of 2024, 20% growth from SAR 107.6 million in the year-earlier period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	410.70	462.30	12.6 %
Gross Income	180.80	213.70	18.2 %
Operating Income	125.70	144.80	15.2 %
Net Income	107.60	128.80	19.7 %
Average Shares	540.00	540.00	-
EPS (Riyals)	0.20	0.24	19.7 %

Revenue increased by 12.6% to SAR 462.3 million in the nine-month period, on 15.7% rise in flour sales, 7.4% growth in feedstock sales and a decline in selling and distribution expenses. This was offset by higher general and administrative expenses due to new hirings and provision allocation.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	136.70	159.90	17.0 %
Gross Income	59.70	77.20	29.3 %
Operating Income	42.30	52.90	25.1 %
Net Income	38.70	47.10	21.7 %
Average Shares	540.00	540.00	-
EPS (Riyals)	0.07	0.09	21.7 %

Item	Q2 2024	Q3 2024	Change‬
Revenues	138.12	159.90	15.8 %
Gross Income	58.48	77.20	32.0 %
Operating Income	37.40	52.90	41.5 %
Net Income	33.15	47.10	42.1 %
Average Shares	540.00	540.00	-
EPS (Riyals)	0.06	0.09	42.1 %

Q3 2024 net profit stood at SAR 47.1 million, an increase of 21.7% year-on-year (YoY), from SAR 38.7 million, driven by a 17% growth in revenue to SAR 159.9 million.

On a sequential basis, net earnings jumped by 42.1%, from SAR 33.1 million.

Total shareholders’ equity (no minority equity) stood at SAR 730.5 million by Sept. 30, 2024, compared to SAR 696.2 million a year earlier.

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