Quara Finance 2024 profit down 20% to SAR 43.2M; H2 at SAR 18M

06/03/2025 Argaam Exclusive

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Quara Finance Co.’s net profit for 2024 fell by 20% to SAR 43.2 million compared to SAR 53.8 million in 2023, on higher provisions for expected credit losses.

Financials (M)

Item	2023	2024	Change‬
Net income from finance commissions	178.71	190.95	6.9 %
Net Income	53.79	43.25	(19.6 %)
Average Shares	30.00	30.00	-
Earnings Per Share before unusual items (Riyals)	1.79	1.44	(19.6 %)
EPS (Riyals)	1.79	1.44	(19.6 %)

Meanwhile, revenue increased by 9.9% year-on-year to SAR 206.1 million, driven by new financing contracts that increased the size of the portfolio.

H2 net profit fell 31% to SAR 18 million from SAR 25.89 million in H2 2023.

Sequentially, H2 profit fell 28.7% compared to SAR 25.25 million in H1 2024.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2023	H2 2024	Change‬
Net income from finance commissions	85.64	96.28	12.4 %
Net Income	25.89	18.00	(30.5 %)
Average Shares	30.00	30.00	-
Earnings Per Share before unusual items (Riyals)	0.86	0.60	(30.5 %)
EPS (Riyals)	0.86	0.60	(30.5 %)

Item	H1 2024	H2 2024	Change‬
Net income from finance commissions	94.67	96.28	1.7 %
Net Income	25.25	18.00	(28.7 %)
Average Shares	30.00	30.00	-
Earnings Per Share before unusual items (Riyals)	0.84	0.60	(28.7 %)
EPS (Riyals)	0.84	0.60	(28.7 %)

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