Financial Results : AlBabtain Food's profit slips 7% to SAR 5.4M in 2024; H2 at SAR 1.4M

AlBabtain Food's profit slips 7% to SAR 5.4M in 2024; H2 at SAR 1.4M

24/03/2025 Argaam Exclusive

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Abdulaziz and Mansour Ibrahim Albabtin Co. (AlBabtain Food) reported a net profit decline of 7% to SAR 5.4 million in 2024, compared to SAR 5.8 million in 2023, due to higher operating expenses and financing costs.



Financials (M)

Item 2023 2024 Change‬

On the other hand, sales revenue grew by 41% year-on-year (YoY) in 2024, driven by the company securing a larger market share through its strategy of maintaining selling prices and diversifying its product offerings.

 

Moreover, gross profit rose by 25.3% YoY in 2024.

 

In H2 2024, the company’s net profit slumped 50.9% YoY to SAR 1.36 million, from SAR 2.78 million.



On a sequential basis, net earnings dropped 66.2% from SAR 4.04 million in H1 2024.

 

Total shareholders' equity, no minority interest, amounted to SAR 67.6 million by Dec. 31, 2024, up from SAR 63.8 million a year ago.

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