Foods Gate Trading Co. reported a net profit of SAR 3.9 million for H1 2024, down 6% from SAR 4.1 million a year earlier.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 28.57 | 31.44 | 10.1 % |
| Net Income | 4.12 | 3.89 | (5.6 %) |
| Average Shares | 2.10 | 2.10 | - |
| EPS (Riyals) | 1.96 | 1.85 | (5.6 %) |
The profit fall was attributed to the temporary closing of one of Kimono Restaurant’s branches in Riyadh for renovations and improvements for 70 days.
Foods Gate suffered higher general and administrative expenses, in addition to pre-operating expenses for new branches.
This was offset by rising revenues of 10%, or SAR 2.87 million, to SAR 31.44 million in H1 20204, compared to SAR 28.56 million a year ago due to the opening of two new branches in Jeddah.
Total shareholders’ equity, no minority interest, stood at SAR 47.8 million by June 30, 2024, compared to SAR 41.37 million a year ago.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net profit (SAR mln) |
Earnings Per Share (SAR) |
|
H1 2021 |
25.09 |
1.76 |
0.84 |
|
H2 2021 |
34.93 |
3.88 |
1.85 |
|
H1 2022 |
31.76 |
6.41 |
3.05 |
|
H2 2022 |
29.83 |
1.94 |
0.92 |
|
H1 2023 |
28.57 |
5.37 |
2.56 |
|
H2 2023 |
30.80 |
3.03 |
1.44 |
|
H1 2024 |
31.44 |
3.89 |
1.85 |
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