Lana’s H1 2024 net profit grows 5% to SAR 3.2M

28/08/2024 Argaam Exclusive

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Lana Medical Co. reported a net profit rise of 5% to SAR 3.2 million for the first half of 2024, from SAR 3.1 million a year earlier.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	21.67	33.66	55.3 %
Gross Income	8.09	11.47	41.8 %
Operating Income	3.84	4.20	9.4 %
Net Income	3.06	3.22	5.3 %
Average Shares	3.00	3.60	20.0 %
EPS (Riyals)	1.02	0.89	(12.3 %)

The rise in the six-month net profit was driven by a 55.31% leap year-on-year (YoY) in revenue, as the company boosted its market share. Revenue was propelled by government projects.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	21.67	33.66	55.3 %
Gross Income	8.09	11.47	41.8 %
Operating Income	3.84	4.20	9.4 %
Net Income	3.06	3.22	5.3 %
Average Shares	3.00	3.60	20.0 %
EPS (Riyals)	1.02	0.89	(12.3 %)

Item	H2 2023	H1 2024	Change‬
Revenues	26.96	33.66	24.9 %
Gross Income	12.06	11.47	(4.9 %)
Operating Income	0.73	4.20	473.2 %
Net Income	(0.05)	3.22	6659.1 %
Average Shares	3.60	3.60	-
EPS (Riyals)	(0.01)	0.89	6659.1 %

Total shareholders’ equity, no minority interest, rose to SAR 71.27 million as of June 30, 2024, compared to SAR 50.48 million a year earlier.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
2023
H1	21.67	3.06	1.02
H2	26.96	(0.05)	(0.01)
2024
H1	33.66	3.22	0.89

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