Knowledge Tower’s profit falls 38% to SAR 3.2M profit in H1 2024/25

02/12/2024 Argaam Exclusive

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Knowledge Tower Trading Co. reported a net profit of SAR 3.2 million for six months ended on Sept. 30, 2024, a slump of 38%, from SAR 5.1 million in the a year-earlier period.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	21.42	20.75	(3.1 %)
Net Income	5.13	3.20	(37.6 %)
Average Shares	17.50	17.50	-
EPS (Riyals)	0.29	0.18	(37.6 %)

Sales fell 3% year-on-year (YoY) as most of the mega project sales occur during the second half of the fiscal year. The company also ascribed lower profit to higher selling, marketing and financing costs.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	21.42	20.75	(3.1 %)
Net Income	5.13	3.20	(37.6 %)
Average Shares	17.50	17.50	-
EPS (Riyals)	0.29	0.18	(37.6 %)

Item	H2 2023	H1 2024	Change‬
Revenues	10.00	20.75	107.4 %
Net Income	(1.74)	3.20	284.3 %
Average Shares	17.50	17.50	-
EPS (Riyals)	(0.10)	0.18	284.3 %

Total shareholders’ equity (no minority interest) stood at SAR 22.96 million by Sept. 30, 2024, compared to SAR 24.12 million a year earlier.

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