United Mining Industries Co. posted a profit drop of 36% to SAR 11.3 million for the first half of 2024, compared to SAR 17.8 million in the prior-year period.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 114.76 | 121.12 | 5.5 % |
| Net Income | 17.84 | 11.34 | (36.4 %) |
| Average Shares | 14.00 | 14.00 | - |
| EPS (Riyals) | 1.27 | 0.81 | (36.4 %) |
The six-month profit was hurt by a provision for a legal claim between the company and the General Authority for Competition (GAC).
On the other hand, the company reported a 5.5% year-on-year (YoY) rise in the H1 2024 revenue, thanks to adopting a diverse sales mix and an updated marketing strategy.
Operating profits also jumped 20% YoY.
Shareholders’ equity, no minority interest, stood at SAR 184.5 million as of June 30, 2024, compared to SAR 183.02 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2022 |
122.45 |
12.81 |
0.91 |
|
H2 2022 |
119.36 |
19.23 |
1.37 |
|
H1 2023 |
114.76 |
17.84 |
1.27 |
|
H2 2023 |
125.57 |
17.99 |
1.29 |
|
H1 2024 |
121.12 |
11.34 |
0.81 |
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