Alhasoob H1 2024 profit rises 10% to SAR 1.6M

28/08/2024 Argaam Exclusive

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Alhasoob Co. reported a net profit of SAR 1.6 million in H1 2024, a rise of 10%, compared to SAR 1.4 million in the prior-year period.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	105.89	123.17	16.3 %
Gross Income	6.58	8.47	28.8 %
Operating Income	2.06	2.25	9.3 %
Net Income	1.43	1.57	9.9 %
Average Shares	2.80	2.80	-
EPS (Riyals)	0.51	0.56	9.9 %

The profit growth was supported by higher revenues on the launch of the projects department in H1 2024.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	105.89	123.17	16.3 %
Gross Income	6.58	8.47	28.8 %
Operating Income	2.06	2.25	9.3 %
Net Income	1.43	1.57	9.9 %
Average Shares	2.80	2.80	-
EPS (Riyals)	0.51	0.56	9.9 %

Item	H2 2023	H1 2024	Change‬
Revenues	123.93	123.17	(0.6 %)
Gross Income	7.78	8.47	8.8 %
Operating Income	0.88	2.25	156.4 %
Net Income	0.31	1.57	401.3 %
Average Shares	2.80	2.80	-
EPS (Riyals)	0.11	0.56	401.3 %

Total shareholders’ equity, no minority interest, stood at SAR 38.76 million by the end of H1 2024, compared to SAR 36.98 million in the year-earlier period.

Historical Data
Period	Revenues (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2020	120.74	4.60	1.64
H2 2020	134.63	6.43	2.30
H1 2021	110.18	5.67	2.02
H2 2021	146.28	6.28	2.25
H1 2022	99.12	3.42	1.22
H2 2022	121.12	3.24	1.16
H1 2023	105.89	1.43	0.51
H2 2023	123.92	0.31	0.11
H1 2024	123.17	1.57	0.56

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