Financial Results : Jamjoom Pharma profit rises 22% to SAR 103M in Q1 2024

Jamjoom Pharma profit rises 22% to SAR 103M in Q1 2024

09/05/2024 Argaam Exclusive

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Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma) posted a net profit of SAR 103 million in Q1 2024, a 22% increase from SAR 84.4 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 300.85 385.46 28.1 %
Gross Income 199.61 249.40 24.9 %
Operating Income 93.91 126.58 34.8 %
Net Income 84.40 102.97 22.0 %
Average Shares 70.00 70.00 -
EPS (Riyals) 1.21 1.47 22.0 %

The positive performance was driven by the increase in sales, which were slightly offset by the devaluation impact from the Egyptian pound.

 

Sequentially, net profit jumped 131.5% from SAR 44.48 million in Q4 2023 on higher sales, improvement in gross margin, in addition to better absorption of operating expenses.

 

Shareholders’ equity, no minority interest, stood at SAR 1.46 billion as of March 31, 2024, compared to SAR 1.26 billion a year earlier.

 

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