Marble Design profit drops 17% to SAR 8.79M in H1 2024

01/08/2024 Argaam Exclusive

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Marble Design Co.’s net earnings dropped 17.3% to SAR 8.79 million in H12024 from SAR 10.64 million in H1 2023 due to the decrease in revenues from main operating activities and other revenue.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	26.79	26.36	(1.6 %)
Gross Income	17.67	16.34	(7.5 %)
Operating Income	10.12	9.53	(5.8 %)
Net Income	10.64	8.79	(17.4 %)
Average Shares	6.00	6.00	-
EPS (Riyals)	1.77	1.47	(17.4 %)

This drop occurred because the company’s revenues from main activities decreased by 1.63% to SAR 26.35 million, compared to SAR 26.79 million for H1 2023, due to lower demand and other revenues.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	26.79	26.36	(1.6 %)
Gross Income	17.67	16.34	(7.5 %)
Operating Income	10.12	9.53	(5.8 %)
Net Income	10.64	8.79	(17.4 %)
Average Shares	6.00	6.00	-
EPS (Riyals)	1.77	1.47	(17.4 %)

Item	H2 2023	H1 2024	Change‬
Revenues	24.39	26.36	8.1 %
Gross Income	14.78	16.34	10.6 %
Operating Income	12.37	9.53	(22.9 %)
Net Income	11.27	8.79	(22.0 %)
Average Shares	6.00	6.00	-
EPS (Riyals)	1.88	1.47	(22.0 %)

Shareholders’ equity, no minority interest, stood at SAR 97.70 million, versus SAR 97.70 million in 2023.

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