IHR reports 67% jump in H1 2024 net profit to SAR 2.8M

01/09/2024 Argaam Exclusive

View other reports

International Human Resources Co. (IHR) reported a net profit of SAR 2.8 million in H1 2024, an increase of 67%, compared to SAR 1.7 million in the year-earlier period.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	47.82	76.49	60.0 %
Gross Income	8.79	11.28	28.3 %
Operating Income	2.37	3.92	65.6 %
Net Income	1.65	2.76	66.6 %
Average Shares	50.00	50.00	-
EPS (Halala)	3.31	5.51	66.6 %

H1 2024 revenue increased by 60% year-on-year (YoY) on the company's expansions in the workforce support and employment, in addition to new operating, consulting, and training contracts. Further, the number of workers rose by 37% YoY.

The six-month gross profit increased by 28% compared to the same period of the previous year, due to an increase in operating gross profit on stronger demand in the company’s six business divisions.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	47.82	76.49	60.0 %
Gross Income	8.79	11.28	28.3 %
Operating Income	2.37	3.92	65.6 %
Net Income	1.65	2.76	66.6 %
Average Shares	50.00	50.00	-
EPS (Halala)	3.31	5.51	66.6 %

Item	H2 2023	H1 2024	Change‬
Revenues	64.27	76.49	19.0 %
Gross Income	9.68	11.28	16.5 %
Operating Income	2.24	3.92	75.4 %
Net Income	1.18	2.76	133.4 %
Average Shares	50.00	50.00	-
EPS (Halala)	2.36	5.51	133.4 %

Total shareholders’ equity, no minority interest, reached SAR 45.11 million by June 30, 2024, compared to SAR 41.45 million a year earlier.

Development of Interim Financials
Period	Revenue ( SAR mln)	Net Profit ( SAR mln)	EPS (SAR/Share)
H1 2021	41.41	3.00	0.06
H2 2021	36.58	(0.54)	(0.09)
H1 2022	39.20	3.72	0.07
H2 2022	38.03	0.58	0.01
H1 2023	47.82	1.65	0.03
H2 2023	64.27	1.19	0.02
H1 2024	76.48	2.75	0.06

View More Financial Results

Kindly, you can view the full report by subscribing to the

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

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×