Financial Results : MBC Group reports SAR 212.1M profit in H1 2024, Q2 at SAR 102.6M

MBC Group reports SAR 212.1M profit in H1 2024, Q2 at SAR 102.6M

08/08/2024 Argaam Exclusive

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MBC Group Co. reported a profit of SAR 212.1 million in H1 2024, compared to SAR 46.3 million a year ago.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 1,999.72 2,199.62 10.0 %
Gross Income 448.27 698.93 55.9 %
Operating Income (3.29) 157.22 4875.7 %
Net Income 46.27 212.06 358.3 %
Average Shares 299.25 332.50 11.1 %
EPS (Riyals) 0.15 0.64 312.5 %

The profit growth in H1 2024 was attributed to acquiring subsidiaries at the end of H1 2023, so there were no revenues or expenses for that period.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 1,090.64 963.87 (11.6 %)
Gross Income 288.00 354.02 22.9 %
Operating Income 46.55 92.90 99.6 %
Net Income 69.18 116.49 68.4 %
Average Shares 299.25 332.50 11.1 %
EPS (Riyals) 0.23 0.35 51.5 %

Q2 2024 net surged 48.2% to SAR 102.6 million from SAR 69.18 million in the year earlier period.

 

On a quarterly basis, Q2 2024 net earnings retreated 15.4% from SAR 102.56 million in Q1 2024.

 

Shareholders’ equity, after minority interest, reached SAR 3.98 billion by June 30, 2024, compared to SAR 2.99 billion a year ago.

 

Earnings per share for the current period amounted to SAR 0.64 by dividing net income over a weighted average number of shares.

 

Attached Documents

 

 

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