Osool & Bakheet Investment Co.’s net profit dropped 8% to SAR 11.9 million for H1 2024, compared to SAR 13 million a year earlier.
Item | 6m 2023 | 6m 2024 | Change |
---|---|---|---|
Revenues | 32.80 | 22.16 | (32.4 %) |
Gross Income | 32.80 | 22.16 | (32.4 %) |
Operating Income | 13.51 | 11.87 | (12.2 %) |
Net Income | 12.96 | 11.95 | (7.8 %) |
Average Shares | 6.00 | 8.10 | 35.0 % |
EPS (Riyals) | 2.16 | 1.48 | (31.7 %) |
Item | H1 2023 | H1 2024 | Change |
---|---|---|---|
Revenues | 32.80 | 22.16 | (32.4 %) |
Gross Income | 32.80 | 22.16 | (32.4 %) |
Operating Income | 13.51 | 11.87 | (12.2 %) |
Net Income | 12.96 | 11.95 | (7.8 %) |
Average Shares | 6.00 | 8.10 | 35.0 % |
EPS (Riyals) | 2.16 | 1.48 | (31.7 %) |
Item | H2 2023 | H1 2024 | Change |
---|---|---|---|
Revenues | 27.57 | 22.16 | (19.6 %) |
Gross Income | 27.57 | 22.16 | (19.6 %) |
Operating Income | 13.54 | 11.87 | (12.4 %) |
Net Income | 12.54 | 11.95 | (4.7 %) |
Average Shares | 8.10 | 8.10 | - |
EPS (Riyals) | 1.55 | 1.48 | (4.7 %) |
The company posted a 32% revenue fall to SAR 22.16 million in the first six months of the year, from SAR 32.80 million in H1 2023. This was primarily attributed to the SAR 16.57 million year-on-year (YoY) drop in unrealized gains from the valuation of investments at fair value through profit or loss.
Income from the investment services activities provided by the company rose to SAR 5.93 million for the first half of this year. Zakat expenses also added 67% YoY during the same period.
However, other income soared 188% YoY to SAR 1.38 million, while operating expenses dropped YoY by 47% to SAR 9 million in H1 2024.
Total shareholders’ equity, no minority interest, climbed to SAR 212.05 million by the end of June 30, 2024, compared to SAR 120.67 million a year earlier.
Historical data |
|||
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
H1 2022 |
15.77 |
6.67 |
1.11 |
H2 2022 |
12.44 |
3.57 |
0.60 |
H1 2023 |
32.80 |
12.96 |
2.16 |
H2 2023 |
27.81 |
12.54 |
1.55 |
H1 2024 |
22.16 |
11.95 |
1.59 |
Kindly,
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