Almujtama Alraida Medical Co.’s net profit declined 83% to SAR 2 million in H1 2024 from SAR 11 million a year earlier.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 204.13 | 209.40 | 2.6 % |
| Gross Income | 66.69 | 68.86 | 3.3 % |
| Operating Income | 13.16 | 3.62 | (72.5 %) |
| Net Income | 11.33 | 1.98 | (82.5 %) |
| Average Shares | 9.50 | 9.50 | - |
| EPS (Riyals) | 1.19 | 0.21 | (82.5 %) |
The profit decline was due to weak sales growth, which led to a failure to absorb operating expenses. This was in addition to spending on promotional expenses as well as closing a distinguished branch on a decision from the municipality.
However, the company posted a 2.6% (SAR 5.26 million) increase in revenues during H1 2024 compared with a year earlier on opening new branches.
Total shareholders’ equity, no minority interest, stood at SAR 131.8 million by June 30, 2024, compared to SAR 129.6 million a year ago.
|
Interim Data History |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2022 |
171.80 |
6.84 |
0.72 |
|
H2 2022 |
195.28 |
12.24 |
1.29 |
|
H1 2023 |
204.13 |
11.33 |
1.19 |
|
H2 2023 |
203.61 |
0.06 |
0.01 |
|
H1 2024 |
209.3 |
1.98 |
0.21 |
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