Saudi Lime net profit climbs 83% to SAR 8.5M in H1 2024

25/08/2024 Argaam Exclusive

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Saudi Lime Industries Co. reported a net profit of SAR 8.5 million for the first half of 2024, an 83% jump from SAR 4.7 million a year earlier.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	71.53	90.03	25.9 %
Gross Income	31.03	39.69	27.9 %
Operating Income	4.59	9.60	109.4 %
Net Income	4.67	8.54	82.8 %
Average Shares	22.00	22.00	-
EPS (Riyals)	0.21	0.39	82.8 %

This was due a rise in revenues compared with a year earlier on higher sales volume and relative rise in the selling price of the final product.

However, the company posted higher cost of sales and an increase in general and administrative expenses compared with a year before.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	71.53	90.03	25.9 %
Gross Income	31.03	39.69	27.9 %
Operating Income	4.59	9.60	109.4 %
Net Income	4.67	8.54	82.8 %
Average Shares	22.00	22.00	-
EPS (Riyals)	0.21	0.39	82.8 %

Item	H2 2023	H1 2024	Change‬
Revenues	78.44	90.03	14.8 %
Gross Income	35.68	39.69	11.2 %
Operating Income	1.74	9.60	452.2 %
Net Income	5.09	8.54	67.9 %
Average Shares	22.00	22.00	-
EPS (Riyals)	0.23	0.39	67.9 %

Shareholders’ equity, no minority interest, increased to SAR 284.1 million as of June 30, 2024, from SAR 271.1 million a year earlier.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2021	65.15	6.45	0.32
H2 2021	66.44	4.81	0.24
H1 2022	70.90	6.52	0.33
H2 2022	71.48	9.31	0.47
H1 2023	71.53	4.67	0.21
H2 2023	78.45	5.08	0.23
H1 2024	90.03	8.54	0.39

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