Financial Results : Miahona makes SAR 44.8M profit in 9M 2024; Q3 at SAR 16.7M

Miahona makes SAR 44.8M profit in 9M 2024; Q3 at SAR 16.7M

06/11/2024 Argaam Exclusive

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Miahona Co. reported a net profit of SAR 44.8 million for the first nine months of 2024, up from SAR 44 million in the year-earlier period, on higher revenue from constructions, increased gross profit, and a rise in other revenue.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 225.62 248.08 10.0 %
Gross Income 79.60 80.13 0.7 %
Operating Income 52.22 51.91 (0.6 %)
Net Income 44.00 44.81 1.8 %
Average Shares 160.93 160.93 -
EPS (Riyals) 0.27 0.28 1.8 %


Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 76.00 88.48 16.4 %
Gross Income 28.96 24.57 (15.2 %)
Operating Income 21.63 19.76 (8.6 %)
Net Income 18.91 16.72 (11.6 %)
Average Shares 160.93 160.93 -
EPS (Riyals) 0.12 0.10 (11.6 %)

Q3 2024 net profit stood at SAR 16.7 million, a decline of 12% year-on-year (YoY) from SAR 18.9 million, mainly due to higher revenue from constructions.

 

On a sequential basis, net earnings increased by almost two-fold from SAR 8.1 million in Q2 2024.

 

Total shareholders’ equity (after minority equity) stood at SAR 423.31 million by Sept. 30, 2024, compared to SAR 385.98 million a year earlier.

 

Attached Documents

 

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Quarterly Actuals vs Estimates 06/11/2024

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