Alamar Foods Co. swung to a net loss of SAR 3.6 million in H1 2024, against earnings of SAR 31.9 million a year earlier.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 502.41 | 433.31 | (13.8 %) |
| Gross Income | 148.18 | 119.49 | (19.4 %) |
| Operating Income | 42.85 | 6.70 | (84.4 %) |
| Net Income | 31.86 | (3.57) | (111.2 %) |
| Average Shares | 25.50 | 25.50 | - |
| EPS (Riyals) | 1.25 | (0.14) | (111.2 %) |
The profit decline was due to lower sales on the ongoing geopolitical situation in the region and the currency devaluation in Egypt, in addition to the non-recurring costs recorded in the first quarter of 2024 amounting to SAR 11 million.
The second-quarter net profit dropped 26% to SAR 13.1 million from SAR 17.5 million in Q2 2023, hurt by lower sales.
Meanwhile, the company turned profitable from a loss of SAR 16.62 million in Q1 2024.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 252.66 | 226.45 | (10.4 %) |
| Gross Income | 78.21 | 68.84 | (12.0 %) |
| Operating Income | 22.63 | 18.86 | (16.6 %) |
| Net Income | 17.53 | 13.05 | (25.6 %) |
| Average Shares | 25.50 | 25.50 | - |
| EPS (Riyals) | 0.69 | 0.51 | (25.6 %) |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 206.85 | 226.45 | 9.5 % |
| Gross Income | 50.65 | 68.84 | 35.9 % |
| Operating Income | (12.16) | 18.86 | 255.1 % |
| Net Income | (16.62) | 13.05 | 178.5 % |
| Average Shares | 25.50 | 25.50 | - |
| EPS (Riyals) | (0.65) | 0.51 | 178.5 % |
Shareholders’ equity, after minority interest, declined to SAR 284.47 million as of June 30, 2024, from SAR 326.80 million a year earlier.
| Company | Estimated | Actual | Change |
|---|---|---|---|
| SAUDI ARAMCO | 104,019.94 | 106,158.00 | 2.1 % |
| SAUDI CEMENT | 90.58 | 87.30 | (3.6 %) |
| DAR ALARKAN | 173.60 | 165.12 | (4.9 %) |
| LUMI | 54.61 | 46.01 | (15.8 %) |
| SPCC | 45.14 | 30.00 | (33.5 %) |
| SAVOLA GROUP | 258.90 | 135.39 | (47.7 %) |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| ALAMAR | 11.00 | 13.05 | 18.6 % |
| SAUDI ARAMCO | 104,019.94 | 106,158.00 | 2.1 % |
| JAMJOOM PHARMA | 106.61 | 106.95 | 0.3 % |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| SAVOLA GROUP | 258.90 | 135.39 | (47.7 %) |
| SPCC | 45.14 | 30.00 | (33.5 %) |
| A.OTHAIM MARKET | 58.76 | 43.28 | (26.3 %) |
| LUMI | 54.61 | 46.01 | (15.8 %) |
| YSCC | 98.89 | 84.62 | (14.4 %) |
| DAR ALARKAN | 173.60 | 165.12 | (4.9 %) |
| SAUDI CEMENT | 90.58 | 87.30 | (3.6 %) |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}