Mulkia Investment profit down 37% to SAR 8.6M in H1 2024

06/08/2024 Argaam Exclusive

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Mulkia Investment Co.'s net profit fell by 37% to SAR 8.6 million in H1 2024, compared to SAR 13.5 million.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	23.59	19.55	(17.1 %)
Gross Income	16.39	10.74	(34.5 %)
Operating Income	14.64	9.71	(33.6 %)
Net Income	13.50	8.57	(36.5 %)
Average Shares	6.50	6.50	-
EPS (Riyals)	2.08	1.32	(36.5 %)

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	23.59	19.55	(17.1 %)
Gross Income	16.39	10.74	(34.5 %)
Operating Income	14.64	9.71	(33.6 %)
Net Income	13.50	8.57	(36.5 %)
Average Shares	6.50	6.50	-
EPS (Riyals)	2.08	1.32	(36.5 %)

Item	H2 2023	H1 2024	Change‬
Revenues	20.24	19.55	(3.4 %)
Gross Income	10.38	10.74	3.5 %
Operating Income	8.36	9.71	16.1 %
Net Income	7.31	8.57	17.1 %
Average Shares	6.50	6.50	-
EPS (Riyals)	1.13	1.32	17.1 %

The profit decline was driven by a SAR 3 million fall in revenues from investment services and asset management and a SAR 2.2 million slip in unrealized profit from reassessment of investments.

Shareholders' equity, no minority interest, reached SAR 81.65 million as of June 30, 2024, compared to SAR 81.35 million in the prior-year period.

Historical Development of Interim Data
Period	Revenue (SAR mln)	Net profit (SAR mln)	Earnings Per Share (SAR)
H1 2022	18.42	9.62	1.48
H2 2022	18.42	6.70	1.03
H1 2023	23.59	13.50	2.08
H2 2023	20.24	7.32	1.12
H1 2024	19.55	8.57	1.32

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