AlBabtain Food profit up 33% to SAR 4M in H1 2024

22/08/2024 Argaam Exclusive

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Abdulaziz and Mansour Ibrahim AlBabtain Co. (AlBabtain Food) reported a net profit increase of 33% to SAR 4 million in the first half of 2024, compared to SAR 3 million in H1 2023.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	65.16	90.87	39.5 %
Gross Income	17.19	18.99	10.4 %
Operating Income	3.16	3.47	10.0 %
Net Income	3.04	4.04	32.8 %
Average Shares	3.40	3.40	-
EPS (Riyals)	0.89	1.19	32.8 %

The profit increase was fueled by a 39.4% increase in sales, due to the diversity of the company's products and the increase in customers.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	65.16	90.87	39.5 %
Gross Income	17.19	18.99	10.4 %
Operating Income	3.16	3.47	10.0 %
Net Income	3.04	4.04	32.8 %
Average Shares	3.40	3.40	-
EPS (Riyals)	0.89	1.19	32.8 %

Item	H2 2023	H1 2024	Change‬
Revenues	79.17	90.87	14.8 %
Gross Income	17.58	18.99	8.0 %
Operating Income	2.52	3.47	37.8 %
Net Income	2.78	4.04	45.2 %
Average Shares	3.40	3.40	-
EPS (Riyals)	0.82	1.19	45.2 %

Shareholders’ equity, no minority interest, increased to SAR 66.2 million as of June 30, 2024, from SAR 60.9 million a year earlier.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2021	55.10	5.78	1.70
H2 2021	72.64	10.09	2.97
H1 2022	62.69	5.66	1.67
H2 2022	64.20	8.73	2.57
H1 2023	65.16	3.04	0.89
H2 2023	79.15	2.76	0.81
H1 2024	90.9	4.0	1.19

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