Fad H1 2024 profit falls 13% to SAR 15.1M

13/08/2024 Argaam Exclusive

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Fad International Co. reported a 13% fall in its H1 2024 net profit to SAR 15.1 million, from SAR 17.3 million a year earlier.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	110.31	105.10	(4.7 %)
Gross Income	71.00	67.37	(5.1 %)
Operating Income	19.94	17.08	(14.3 %)
Net Income	17.26	15.09	(12.6 %)
Average Shares	1.20	1.20	-
EPS (Riyals)	14.38	12.57	(12.6 %)

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	110.31	105.10	(4.7 %)
Gross Income	71.00	67.37	(5.1 %)
Operating Income	19.94	17.08	(14.3 %)
Net Income	17.26	15.09	(12.6 %)
Average Shares	1.20	1.20	-
EPS (Riyals)	14.38	12.57	(12.6 %)

Item	H2 2023	H1 2024	Change‬
Revenues	53.65	105.10	95.9 %
Gross Income	31.38	67.37	114.7 %
Operating Income	(15.11)	17.08	213.0 %
Net Income	(17.00)	15.09	188.8 %
Average Shares	1.20	1.20	-
EPS (Riyals)	(14.17)	12.57	188.8 %

For the first six months of the year, retail and wholesale revenues fell year-on-year (YoY) by SAR 5.2 million and SAR 1.1 million, respectively. However, e-commerce revenues increased by SAR 1.1 million YoY for the same period.

Shareholders’ equity, no minority interest, grew to SAR 31.94 million as of June 30, 2024, compared to SAR 16.86 million in the year before.

Historical Data
Period	Revenues (SAR mln)	Net Profit (SAR mln)	EPS (SAR/share)
H1 2023	110.31	17.26	14.38
H2 2023	53.65	(17.00)	(14.17)
H1 2024	105.10	15.09	12.57

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