Group Five Pipe Saudi Co. reported a 5% decline in net profit to SAR 9.2 million in the first half of 2024, compared to SAR 9.7 million a year earlier due to higher financing costs.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 311.48 | 375.93 | 20.7 % |
| Gross Income | 30.42 | 39.89 | 31.1 % |
| Operating Income | 22.37 | 28.32 | 26.6 % |
| Net Income | 9.68 | 9.21 | (4.9 %) |
| Average Shares | 28.00 | 28.00 | - |
| EPS (Riyals) | 0.35 | 0.33 | (4.9 %) |
The company’s revenue jumped by 20.7% year-on-year (YoY) to SAR 376 million in the six-month period, driven by improved sales volumes and average selling prices per ton.
Shareholders’ equity, no minority interest, reached SAR 333.28 million by the end of the first half of 2024, up from SAR 322.95 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
Earnings Per Share (SAR) |
|
H1 2020 |
352.84 |
30.07 |
1.07 |
|
H2 2020 |
563.32 |
53.54 |
1.92 |
|
H1 2021 |
477.82 |
28.83 |
1.03 |
|
H2 2021 |
163.28 |
6.29 |
0.22 |
|
H1 2022 |
58.40 |
(18.73) |
(0.67) |
|
H2 2022 |
172.14 |
(5.65) |
(0.20) |
|
H1 2023 |
311.484 |
9.68 |
0.35 |
|
H2 2023 |
143.824 |
(0.31) |
(0.01) |
|
H1 2024 |
375.93 |
9.21 |
0.33 |
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