FADECO posts 45% profit rise to SAR 3M in H1 2024

29/08/2024 Argaam Exclusive

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Arabian Food and Dairy Factories Co. (FADECO) reported a net profit of SAR 3 million in the first half of 2024, up 45% compared to SAR 2.1 million in the prior-year period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 30.02 29.41 (2.0 %)
Gross Income 13.51 14.73 9.0 %
Operating Income 2.14 3.17 48.1 %
Net Income 2.09 3.02 44.6 %
Average Shares 1.41 1.41 -
EPS (Riyals) 1.48 2.14 44.6 %


The positive performance was driven by lower raw material prices, along with higher product prices.

 

Shareholders’ equity, no minority interest, stood at SAR 34.71 million as of June 30, 2024, compared to SAR 29.40 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR/share)

H1 2020

24.42

3.75

2.66

H2 2020

29.03

5.63

3.99

H1 2021

24.80

3.48

2.47

H2 2021

27.44

2.54

1.80

H1 2022

27.13

(0.20)

(0.14)

H2 2022

30.91

3.97

2.82

H1 2023

30.02

2.09

1.48

H2 2023

32.17

3.91

2.77

H1 2024

29.41

3.02

2.14

 

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The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.


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