APICO H1 2024 profit falls 19% to SAR 5.3M

18/08/2024 Argaam Exclusive

View other reports

Arabian Plastic Industrial Co. (APICO) reported a net profit of SAR 5.3 million in H1 2024, a slump of 19% from SAR 6.5 million in the year-earlier period.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	82.47	86.43	4.8 %
Gross Income	14.31	14.71	2.8 %
Operating Income	8.16	7.45	(8.6 %)
Net Income	6.51	5.30	(18.6 %)
Average Shares	5.00	5.00	-
EPS (Riyals)	1.30	1.06	(18.6 %)

The first-half sales increased by 4.79% compared to the same period last year mainly due to higher injection molding sales.

Meanwhile, H1 net profit dropped year-on-year (YoY) due to higher prices of materials, increased overhead costs and increased financing costs.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	82.47	86.43	4.8 %
Gross Income	14.31	14.71	2.8 %
Operating Income	8.16	7.45	(8.6 %)
Net Income	6.51	5.30	(18.6 %)
Average Shares	5.00	5.00	-
EPS (Riyals)	1.30	1.06	(18.6 %)

Item	H2 2023	H1 2024	Change‬
Revenues	74.18	86.43	16.5 %
Gross Income	13.73	14.71	7.2 %
Operating Income	7.97	7.45	(6.5 %)
Net Income	6.52	5.30	(18.6 %)
Average Shares	5.00	5.00	-
EPS (Riyals)	1.30	1.06	(18.6 %)

Total shareholders’ equity, no minority interest, reached SAR 101.29 million by June 30, 2024, compared to SAR 89.10 million in the corresponding period of the year before.

Development of Interim Results
Period	Revenue (SAR mln)	Net Profit ( SAR mln)	Earnings Per Share (SAR)
H1 2023	82.47	6.51	1.30
H2 2023	74.18	6.52	1.31
H1 2024	85.42	5.30	1.06

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.

×