Aqaseem Factory for Chemicals and Plastics Co. reported a net profit of SAR 5 million for the first six months of 2024, a 13% decline from SAR 5.8 million in the same period a year ago.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 74.62 | 93.48 | 25.3 % |
| Net Income | 5.77 | 5.01 | (13.2 %) |
| Average Shares | 2.50 | 2.50 | - |
| EPS (Riyals) | 2.31 | 2.00 | (13.2 %) |
The annual profit slump was due to the increase in selling & marketing expenses amid the company’s foray into new markets. This is addition to the rise in general & administrative expenses and financing costs.
Total shareholders’ equity (no minority interest) advanced to SAR 60.89 million as of June 30, 2024, from SAR 51.54 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenues (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2021 |
45.58 |
3.96 |
1.58 |
|
H2 2021 |
53.14 |
3.26 |
1.31 |
|
H1 2022 |
61.24 |
1.71 |
0.69 |
|
H2 2022 |
79.27 |
4.31 |
1.72 |
|
H1 2023 |
74.62 |
5.77 |
2.31 |
|
H2 2023 |
76.21 |
4.37 |
1.75 |
|
H1 2024 |
93.48 |
5.00 |
2.00 |
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