Al Rasheed profit rises to SAR 36.1M in H1 2024

13/08/2024 Argaam Exclusive

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Mohammed Hadi Al Rasheed and Partners Co. posted SAR 36.1 million in net profit for H1 2024, up from SAR 11.8 million reported in the same period a year ago.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	91.19	130.63	43.2 %
Gross Income	23.51	48.92	108.1 %
Operating Income	15.09	38.08	152.4 %
Net Income	11.80	36.08	205.7 %
Average Shares	12.00	12.00	-
EPS (Riyals)	0.98	3.01	205.7 %

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	91.19	130.63	43.2 %
Gross Income	23.51	48.92	108.1 %
Operating Income	15.09	38.08	152.4 %
Net Income	11.80	36.08	205.7 %
Average Shares	12.00	12.00	-
EPS (Riyals)	0.98	3.01	205.7 %

Item	H2 2023	H1 2024	Change‬
Revenues	124.04	130.63	5.3 %
Gross Income	47.31	48.92	3.4 %
Operating Income	35.45	38.08	7.4 %
Net Income	32.91	36.08	9.6 %
Average Shares	12.00	12.00	-
EPS (Riyals)	2.74	3.01	9.6 %

The company attributed the profit growth to a 43.3% increase year-on-year in revenues from main activities to SAR 130.6 million.

Shareholders' equity (no minority interest) amounted to SAR 210.19 million, compared to SAR 149.83 million in H1 2023.

Historical Data
Period	Revenue (SAR mln)	Net profit (SAR mln)	EPS (SAR/share)
H1 2022	69.37	8.00	0.67
H2 2022	98.23	16.65	1.39
H1 2023	91.19	11.80	0.98
H2 2023	124.04	32.91	2.74
H1 2024	130.63	36.08	3.01

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