Al Ashghal Al Moysra’s H1 2024 net profit jumps 60% to SAR 7.4M

28/08/2024 Argaam Exclusive

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Al Ashghal Al Moysra Co. reported a net profit of SAR 7.4 million in H1 2024, up 60% from SAR 4.6 million a year earlier.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	23.46	32.03	36.6 %
Gross Income	7.55	10.51	39.2 %
Operating Income	4.13	7.44	79.9 %
Net Income	4.59	7.36	60.3 %
Average Shares	2.40	2.40	-
EPS (Riyals)	1.91	3.07	60.3 %

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	23.46	32.03	36.6 %
Gross Income	7.55	10.51	39.2 %
Operating Income	4.13	7.44	79.9 %
Net Income	4.59	7.36	60.3 %
Average Shares	2.40	2.40	-
EPS (Riyals)	1.91	3.07	60.3 %

Item	H2 2023	H1 2024	Change‬
Revenues	30.49	32.03	5.1 %
Gross Income	10.08	10.51	4.2 %
Operating Income	6.16	7.44	20.6 %
Net Income	6.06	7.36	21.4 %
Average Shares	2.40	2.40	-
EPS (Riyals)	2.52	3.07	21.4 %

This was spurred by a 36.55% jump year-on-year in revenue on a diversified client base, a 0.7% drop in direct costs and a decline of 4.9% in general and administrative expenses (G&As).

Shareholders’ equity, no minority interest, reached SAR 47.25 million by June 30, 2024, compared to SAR 12.35 million a year earlier.

Interim Financials
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR/Share)
H1 2023	23.45	4.59	1.91
H2 2023	30.49	6.06	1.64
H1 2024	32.03	7.36	3.07

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