ASG profits jump 34% to SAR 18.6M in H1 2024

20/08/2024 Argaam Exclusive

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ASG Plastic Factory Co. posted a 34% leap in the first-half net profits to SAR 18.6 million, from SAR 13.9 million in H1 2023.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	55.98	68.42	22.2 %
Gross Income	23.65	31.64	33.8 %
Operating Income	13.72	17.43	27.0 %
Net Income	13.91	18.62	33.9 %
Average Shares	6.30	6.30	-
EPS (Riyals)	2.21	2.96	33.9 %

The higher profit was spurred by a 22.22% year-on-year (YoY) rise in revenue from core business activities to SAR 68.42 million, thanks to better sales across all segments.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	55.98	68.42	22.2 %
Gross Income	23.65	31.64	33.8 %
Operating Income	13.72	17.43	27.0 %
Net Income	13.91	18.62	33.9 %
Average Shares	6.30	6.30	-
EPS (Riyals)	2.21	2.96	33.9 %

Item	H2 2023	H1 2024	Change‬
Revenues	51.40	68.42	33.1 %
Gross Income	19.84	31.64	59.4 %
Operating Income	8.22	17.43	112.0 %
Net Income	8.60	18.62	116.5 %
Average Shares	6.30	6.30	-
EPS (Riyals)	1.37	2.96	116.5 %

Total shareholders’ equity, no minority interest, increased to SAR 89.98 million as of June 30, 2024, from SAR 51.63 million in the year-earlier period.

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