Financial Results : Balady Poultry profit up 56% to SAR 100M in 9M 2024; Q3 at SAR 28M

Balady Poultry profit up 56% to SAR 100M in 9M 2024; Q3 at SAR 28M

28/10/2024 Argaam Exclusive

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Balady Poultry Trading Co. reported a net profit of SAR 100 million in the first nine months of 2024, a 56% increase from SAR 64.2 million a year earlier.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 530.03 667.36 25.9 %
Gross Income 75.42 117.04 55.2 %
Operating Income 58.38 95.89 64.2 %
Net Income 64.21 99.98 55.7 %
Average Shares 6.57 6.57 -
EPS (Riyals) 9.77 15.22 55.7 %
The positive performance was driven by higher sales revenue, which increased by 25.91% year-on-year (YoY) to SAR 667.3 million in 9M 2024 on higher average daily production.

 

In Q3 2024, the company’s net profit grew 17% YoY to SAR 28 million, on higher sales as average daily production rose.

 

Shareholders' equity amounted to SAR 290.49 million at the end of September 2024, compared to SAR 181.68 million at the end of September 2023.



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