Al Taiseer Group Talco Industrial Co. (TALCO) reported a 10% rise in H1 2024 net earnings to SAR 44 million, compared with SAR 39.8 million a year before.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 338.85 | 327.17 | (3.4 %) |
| Gross Income | 71.22 | 76.41 | 7.3 % |
| Operating Income | 44.72 | 51.97 | 16.2 % |
| Net Income | 39.84 | 43.97 | 10.4 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 1.00 | 1.10 | 10.4 % |
The profit growth was driven by higher sales volume, a lower cost of sales, and an increase in other income. In addition, the company reported a decline in general and administrative expenses, as well as lower impairment losses on trade receivables.
However, sales value declined to SAR 327.2 million, compared to SAR 338.8 million a year earlier, due to lower sales volume of the main segment, aluminum, as well as a decrease in the cost of raw materials on lower selling prices of some materials.
Selling and distribution expenses, as well as Zakat charges, increased during the six-month period.
In Q2 2024, net earnings leapt 37% to SAR 20.9 million, compared with SAR 15.28 million a year earlier, driven mainly by higher sales value and revenues, as well as lower general and administrative expenses.
However, the company's second-quarter earnings fell 9.7% from SAR 23.10 million in Q1 2024.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 156.47 | 164.80 | 5.3 % |
| Gross Income | 31.47 | 37.94 | 20.6 % |
| Operating Income | 17.54 | 25.32 | 44.4 % |
| Net Income | 15.28 | 20.87 | 36.6 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.38 | 0.52 | 36.6 % |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 162.37 | 164.80 | 1.5 % |
| Gross Income | 38.47 | 37.94 | (1.4 %) |
| Operating Income | 26.65 | 25.32 | (5.0 %) |
| Net Income | 23.10 | 20.87 | (9.7 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.58 | 0.52 | (9.7 %) |
Total shareholders’ equity, no minority interest, grew to SAR 525.71 million as of June 30, 2024, from SAR 440.2 million a year earlier.
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}}