Leen Alkhair profits down 50% to SAR 4M in H1 2024

04/08/2024 Argaam Exclusive

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Leen Alkhair Trading Co.’s net profit retreated 50% to SAR 4 million in H1 2024 from SAR 8 million a year earlier.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	117.72	120.90	2.7 %
Gross Income	15.16	11.92	(21.3 %)
Operating Income	8.84	3.63	(58.9 %)
Net Income	7.98	4.02	(49.7 %)
Average Shares	8.16	8.16	-
EPS (Riyals)	0.98	0.49	(49.7 %)

Earnings were weighed down by an increase in cost of sales, along with higher selling, distribution, general and administrative expenses, and financing costs. However, sales and other revenues edged up.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	117.72	120.90	2.7 %
Gross Income	15.16	11.92	(21.3 %)
Operating Income	8.84	3.63	(58.9 %)
Net Income	7.98	4.02	(49.7 %)
Average Shares	8.16	8.16	-
EPS (Riyals)	0.98	0.49	(49.7 %)

Item	H2 2023	H1 2024	Change‬
Revenues	133.62	120.90	(9.5 %)
Gross Income	17.01	11.92	(29.9 %)
Operating Income	7.67	3.63	(52.6 %)
Net Income	4.01	4.02	0.0 %
Average Shares	8.16	8.16	-
EPS (Riyals)	0.49	0.49	0.0 %

Total shareholders’ equity, no minority interest, reached SAR 150.19 million by the end of June 2024, compared to SAR 142.23 million a year earlier.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2021	91.19	14.25	1.94
H2 2021	97.37	6.21	0.85
H1 2022	109.59	10.84	1.48
H2 2022	118.98	12.34	1.68
H1 2023	117.72	7.98	0.98
H2 2023	133.62	4.01	0.49
H1 2024	120.90	4.01	0.49

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