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.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 82.47 | 86.42 | 4.8 % |
| 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.
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 |
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