Financial Results : MBC Group posts SAR 109.5M profit in Q1 2024

MBC Group posts SAR 109.5M profit in Q1 2024

16/05/2024 Argaam Exclusive

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MBC Group Co. reported a net profit of SAR 109.5 million in Q1 2024, compared to a net loss of SAR 22.9 million a year ago.


Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 909.08 1,235.75 35.9 %
Gross Income 160.27 344.91 115.2 %
Operating Income (49.84) 64.31 229.0 %
Net Income (22.91) 121.28 629.3 %
Average Shares 299.25 332.50 11.1 %
EPS (Riyals) (0.08) 0.36 576.4 %

The improved results were supported by a 36% leap in total revenues, as well as a 116% surge in gross profit. The group also cited a net profit margin of 10% against a negative margin of -2% a year earlier.

 
The Group does not have comparative figures for the current reporting period, as it was incorporated on April 20, 2023.
 
Shareholders’ equity, after minority interest, reached SAR 3.88 billion by March 31, 2024, with no comparative data.
 
Attached Document:
 

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