Modern Mills for Food Products Co. (Modern Mills) posted a rise of 4% in H1 2024 net profit to SAR 109.5 million, from SAR 105.2 million in the year-earlier period.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 451.98 | 480.79 | 6.4 % |
| Gross Income | 172.26 | 180.51 | 4.8 % |
| Operating Income | 130.08 | 132.49 | 1.9 % |
| Net Income | 105.24 | 109.49 | 4.0 % |
| Average Shares | 81.83 | 81.83 | - |
| EPS (Riyals) | 1.29 | 1.34 | 4.0 % |
Revenues rose due to the increase in market share, geographical expansion and launch of new products. However, brans revenue slipped on prioritization of feed business.
Net profit was also supported by the launch of new products, favorable product mix and additional income generated from efficient cash management.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 199.73 | 222.99 | 11.6 % |
| Gross Income | 69.28 | 81.39 | 17.5 % |
| Operating Income | 53.42 | 55.66 | 4.2 % |
| Net Income | 41.13 | 44.51 | 8.2 % |
| Average Shares | 81.83 | 81.83 | - |
| EPS (Riyals) | 0.50 | 0.54 | 8.2 % |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 257.81 | 222.99 | (13.5 %) |
| Gross Income | 99.12 | 81.39 | (17.9 %) |
| Operating Income | 76.83 | 55.66 | (27.6 %) |
| Net Income | 64.98 | 44.51 | (31.5 %) |
| Average Shares | 81.83 | 81.83 | - |
| EPS (Riyals) | 0.79 | 0.54 | (31.5 %) |
Q2 2024 net profit grew 8% to SAR 44.5 million from SAR 41.1 million in Q2 2023.
Sequentially, net profit fell 31.5% in Q2 2024 from SAR 64.98 million in Q1 2024.
Shareholders’ equity, no minority interest, reached SAR 243.88 million as of June 30, 2024, compared to SAR 213.66 million a year earlier.
| Company | Estimated | Actual | Change |
|---|---|---|---|
| SADAFCO | 128.83 | 127.79 | (0.8 %) |
| UACC | 16.49 | 15.58 | (5.5 %) |
| MODERN MILLS | 48.53 | 44.51 | (8.3 %) |
| AMERICANA | 218.71 | 194.76 | (11.0 %) |
| Leejam Sports | 89.26 | 73.00 | (18.2 %) |
| SAUDI CERAMICS | 13.00 | (10.82) | (183.2 %) |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| BUPA ARABIA | 384.25 | 404.60 | 5.3 % |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| SAUDI CERAMICS | 13.00 | (10.82) | (183.2 %) |
| Leejam Sports | 89.26 | 73.00 | (18.2 %) |
| AMERICANA | 218.71 | 194.76 | (11.0 %) |
| MODERN MILLS | 48.53 | 44.51 | (8.3 %) |
| UACC | 16.49 | 15.58 | (5.5 %) |
| SADAFCO | 128.83 | 127.79 | (0.8 %) |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}