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

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.



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.



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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