Pan Gulf profit falls 69% to SAR 1.7M in H1 2024

13/08/2024 Argaam Exclusive

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Pan Gulf Marketing Co. reported a 69% decline in its H1 2024 net profit to SAR 1.7 million, from SAR 5.6 million in H1 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 185.63 169.18 (8.9 %)
Net Income 5.65 1.74 (69.1 %)
Average Shares 7.50 7.50 -
EPS (Riyals) 0.75 0.23 (69.1 %)

The profit drop during the current period was attributed to lower sales as a result of a decrease in private sector sales and government sector demand.



Shareholders’ equity, no minority interest, rose to SAR 67.73 million as of June 30, 2024, compared to SAR 58.48 million in the year-earlier period.

 

Pan Gulf Financial Performance

Period

Revenues

(SAR mln)

Net Profit

(SAR mln)

Profit Share

(SAR/ share)

H1 2022

179.28

12.91

1.72

H2 2022

236.13

19.87

2.65

H1 2023

185.63

5.65

0.75

H2 2023

236.72

17.19

2.29

H1 2024

169.18

1.74

0.23

View More Financial Results

 

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