Almujtama Alraida profit falls 83% to SAR 2M in H1 202

08/08/2024 Argaam Exclusive

View other reports

Almujtama Alraida Medical Co.’s net profit declined 83% to SAR 2 million in H1 2024 from SAR 11 million a year earlier.

Financials (M)

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.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 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 %)

Item	H2 2023	H1 2024	Change‬
Revenues	203.61	209.40	2.8 %
Gross Income	62.52	68.86	10.1 %
Operating Income	0.79	3.62	359.9 %
Net Income	0.06	1.98	3173.9 %
Average Shares	9.50	9.50	-
EPS (Riyals)	0.01	0.21	3173.9 %

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

View More Financial Results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×