2P profit rises to SAR 125.4M in 9M 2024, SAR36.9M in Q3

10/11/2024 Argaam Exclusive

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Perfect Presentation for Commercial Services Co. (2P) reported a 31% profit rise in the first nine months of 2024 to SAR 125.4 million from SAR 95.9 million a year earlier.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	741.77	775.23	4.5 %
Gross Income	155.07	167.46	8.0 %
Operating Income	122.45	125.08	2.2 %
Net Income	95.94	125.40	30.7 %
Average Shares	300.00	300.00	-
EPS (Riyals)	0.32	0.42	30.7 %

During the nine-month period, revenue grew 4.5% to SAR 775 million from SAR 741 million a year earlier, supported by ongoing growth across business segments and the launch of the cybersecurity segment at the beginning of 2024.

Meanwhile, the company recorded capital gains in 2024 from compensation for its expropriated properties.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	270.32	268.60	(0.6 %)
Gross Income	56.65	59.07	4.3 %
Operating Income	45.76	41.74	(8.8 %)
Net Income	34.65	36.95	6.6 %
Average Shares	300.00	300.00	-
EPS (Riyals)	0.12	0.12	6.6 %

Item	Q2 2024	Q3 2024	Change‬
Revenues	287.14	268.60	(6.5 %)
Gross Income	53.60	59.07	10.2 %
Operating Income	41.30	41.74	1.1 %
Net Income	58.77	36.95	(37.1 %)
Average Shares	300.00	300.00	-
EPS (Riyals)	0.20	0.12	(37.1 %)

In Q3 2024, net profit grew 6.6% year-on-year (YoY) to SAR 36.95 million, from SAR 34.65 million in Q3 2023.

On a quarterly basis, net profit fell 37.1% from SAR 58.77 million in Q2 2024.

Total shareholders’ equity, no minority interest, rose to SAR 505.9 million by Sept. 30, 2024, from SAR 349.3 million in a prior-year period.

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