Financial Results : Ladun’s H1 2024 profit drops 56% to SAR 32.4M

Ladun’s H1 2024 profit drops 56% to SAR 32.4M

01/09/2024 Argaam Exclusive

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Ladun Investment Co.'s net earnings in H1 2024 declined to SAR 32.4 million, compared to SAR 73.1 million a year earlier.

The drop was attributed to a decrease in revenues from real estate development and factories segments, lower performance of contracting and factories businesses, losses from the investment portfolio and higher financing costs.

 

The gross profit margin decreased in the first half of 2024 to 21% from 22.5% in the same period of 2023. Operating profit also fell to 8% from 12% last year.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 652.13 646.76 (0.8 %)
Gross Income 147.04 137.79 (6.3 %)
Operating Income 79.76 53.12 (33.4 %)
Net Income 73.15 32.43 (55.7 %)
Average Shares 500.00 500.00 -
EPS (Riyals) 0.15 0.06 (55.7 %)

Shareholders’ equity, no minority interest, rose to SAR 607.71 million as of June 30, 2023, from SAR 602.28 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR/Share)

H1 2021

402.40

73.49

0.15

H2 2021

367.42

7.31

0.01

H1 2022

513.89

30.01

0.06

H2 2022

367.29

30.18

0.06

H1 2023

652.13

73.15

0.15

H2 2023

783.88

36.19

0.07

H1 2024

646.76

32.43

0.06

View More Financial Results

 

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