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

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

01/09/2024 Argaam Exclusive

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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.



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

 

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