Financial Results : United International 9M 2024 net profit rises to SAR 158.1M; Q3 at SAR 59M

United International 9M 2024 net profit rises to SAR 158.1M; Q3 at SAR 59M

03/12/2024 Argaam Exclusive

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United International Holding Co. posted a net profit of SAR 158.1 million for the first nine months of 2024, a slight increase year-on-year (YoY) from SAR 156.8 million.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Net income from finance commissions 337.28 392.27 16.3 %
Net Income 156.82 158.13 0.8 %
Average Shares 25.00 25.00 -
EPS (Riyals) 6.27 6.33 0.8 %

The profit increase was driven by a 20% increase in the consumer finance portfolio of United Company for Financial Services (Tasheel Finance) due to its Shariah compliant financing solutions, which led to increase in the company's revenue by 17.7%.

 

However, this was offset by the increase of expected credit loss provisions, and selling, marketing, general and administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Net income from finance commissions 115.38 140.69 21.9 %
Net Income 53.07 58.95 11.1 %
Average Shares 25.00 25.00 -
EPS (Riyals) 2.12 2.36 11.1 %

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