Leaf’s net profit jumps 50% to SAR 10.8M in H1 2024

01/09/2024 Argaam Exclusive

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Leaf Global Environmental Services Co. reported a profit leap of 50% to SAR 10.8 million in the first half of 2024, compared to SAR 7.2 million in the year-earlier period.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	21.83	25.19	15.4 %
Gross Income	12.65	11.11	(12.1 %)
Operating Income	7.58	5.59	(26.3 %)
Net Income	7.25	10.84	49.5 %
Average Shares	5.00	5.00	-
EPS (Riyals)	1.45	2.17	49.5 %

The profit growth was propelled by a year-on-year (YoY) rise in revenue, due to the company’s expansion in specialized services.

The company specialized in the fields of mangrove regeneration and coral regeneration, which is reflected on the current demand within the major projects being executed in the Kingdom.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	21.83	25.19	15.4 %
Gross Income	12.65	11.11	(12.1 %)
Operating Income	7.58	5.59	(26.3 %)
Net Income	7.25	10.84	49.5 %
Average Shares	5.00	5.00	-
EPS (Riyals)	1.45	2.17	49.5 %

Item	H2 2023	H1 2024	Change‬
Revenues	22.60	25.19	11.4 %
Gross Income	12.22	11.11	(9.1 %)
Operating Income	8.79	5.59	(36.5 %)
Net Income	8.45	10.84	28.2 %
Average Shares	5.00	5.00	-
EPS (Riyals)	1.69	2.17	28.2 %

Shareholders’ equity, no minority interest, stood at SAR 35.93 million as of June 30, 2024, compared to SAR 26.71 million a year earlier.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2023	21.83	7.25	1.45
H2 2023	22.6	8.45	1.69
H1 2024	25.19	10.84	2.17

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