Foods Gate profit up 4% at SAR 8.7M in 2024; H2 at SAR 4.8M

03/03/2025 Argaam Exclusive

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Foods Gate Trading Co. reported a 4% rise in its 2024 net profit rise to SAR 8.7 million, from SAR 8.4 million a year earlier.

Financials (M)

Item	2023	2024	Change‬
Revenues	59.37	63.89	7.6 %
Gross Income	20.53	20.91	1.8 %
Operating Income	9.56	9.83	2.8 %
Net Income	8.40	8.70	3.6 %
Average Shares	2.10	2.10	-
Earnings Per Share before unusual items (Riyals)	3.99	4.14	3.9 %
EPS (Riyals)	4.00	4.14	3.6 %

The annual net profit was spurred by a 7.6% year-on-year (YoY) increase in revenue to SAR 63.88 million, thanks to the launch of two new branches in Jeddah.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2023	H2 2024	Change‬
Revenues	30.81	32.45	5.3 %
Gross Income	11.45	11.20	(2.2 %)
Operating Income	4.89	5.31	8.5 %
Net Income	4.28	4.81	12.4 %
Average Shares	2.10	2.10	-
Earnings Per Share before unusual items (Riyals)	2.02	2.29	13.2 %
EPS (Riyals)	2.04	2.29	12.4 %

Item	H1 2024	H2 2024	Change‬
Revenues	31.44	32.45	3.2 %
Gross Income	9.70	11.20	15.4 %
Operating Income	4.51	5.31	17.6 %
Net Income	3.89	4.81	23.6 %
Average Shares	2.10	2.10	-
Earnings Per Share before unusual items (Riyals)	1.85	2.29	23.6 %
EPS (Riyals)	1.85	2.29	23.6 %

The second-half net earnings jumped 12% to SAR 4.8 million, compared to SAR 4.2 million in H2 2023.

Compared to H1 2024, the second-half net profit rose 23.6% from SAR 3.89 million.

Total shareholders’ equity, no minority interest, stood at SAR 52.69 million as of Dec. 31, 2024, compared to SAR 45.86 million a year earlier.

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