Munawla Cargo Co.’s earnings rose 90% to SAR 3.9 million in H1 2024, compared to SAR 2.1 million in the year-earlier period.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 59.31 | 65.97 | 11.2 % |
| Net Income | 2.07 | 3.94 | 89.9 % |
| Average Shares | 1.00 | 1.00 | - |
| EPS (Riyals) | 2.07 | 3.94 | 89.9 % |
The profit jump followed a year-on-year jump in revenues driven by the expansion of land and refrigerated transport activity. During the period, the company also reversed some of the allowance for expected credit losses due to changing the assumptions used in the calculation.
Shareholders’ equity, no minority interest, stood at SAR 39.14 million by June 30, 2024, compared to SAR 35.2 million a year ago.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2021 |
57.29 |
3.33 |
3.33 |
|
H2 2021 |
74.47 |
4.25 |
4.25 |
|
H1 2022 |
67.50 |
2.14 |
2.14 |
|
H2 2022 |
71.41 |
7.52 |
7.52 |
|
H1 2023 |
59.31 |
2.07 |
2.07 |
|
H2 2023 |
58.11 |
2.88 |
2.88 |
|
H1 2024 |
65.97 |
3.94 |
3.94 |
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