KnowledgeNet Co. trimmed net losses to SAR 544,000 in the first half of 2024, from SAR 4 million in the prior-year period.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 25.11 | 28.93 | 15.2 % |
| Net Income | (4.03) | (0.54) | 86.5 % |
| Average Shares | 3.50 | 3.50 | - |
| EPS (Riyals) | (1.15) | (0.16) | 86.5 % |
The decline in losses was spurred by a 15% year-on-year (YoY) rise in the first-half revenue to SAR 28.9 million. The parent company’s top line also jumped 52% YoY, thanks to a 130% surge in license sales.
Gross profits also soared to SAR 10.14 million in H1 2024, from SAR 4.60 million in the first half of 2023. Gross profit margins rose, showing a positive impact on earnings per share.
On the other hand, selling and marketing expenses increased.
Total shareholders’ equity, after minority interest, stood at SAR 38.96 million as of June 30, 2024, compared to SAR 41.03 million a year ago.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2021 |
20.97 |
(1.32) |
(0.53) |
|
H2 2022 |
28.05 |
2.89 |
1.16 |
|
H1 2022 |
30.32 |
4.87 |
1.39 |
|
H2 2022 |
28.09 |
(1.77) |
(0.50) |
|
H1 2023 |
25.11 |
(4.03) |
(1.15) |
|
H2 2023 |
26.76 |
(1.23) |
(0.35) |
|
H1 2024 |
28.93 |
(0.54) |
(0.16) |
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