Alshehili profit rises 47% to SAR 5.8M in H1 2024

10/12/2024 Argaam Exclusive

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Alshehili Co. for Metal Industries, which is in the process of listing on Nomu-Parallel Market, posted SAR 5.8 million net profit for H1 2024, a rise of 47% year-on-year from SAR 3.9 million, according to a statement to Tadawul.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	24.59	32.83	33.5 %
Gross Income	8.60	12.30	43.0 %
Operating Income	4.22	6.57	55.6 %
Net Income	3.94	5.78	46.6 %
Average Shares	2.00	2.00	-
EPS (Riyals)	1.97	2.89	46.6 %

The profit rise was driven by an increase in H1 revenues to SAR 32.8 million, from SAR 24.6 million in the same period a year earlier, as well as a rise in gross profit margin and EBITDA.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	24.59	32.83	33.5 %
Gross Income	8.60	12.30	43.0 %
Operating Income	4.22	6.57	55.6 %
Net Income	3.94	5.78	46.6 %
Average Shares	2.00	2.00	-
EPS (Riyals)	1.97	2.89	46.6 %

Item	H2 2023	H1 2024	Change‬
Revenues	35.98	32.83	(8.8 %)
Gross Income	12.48	12.30	(1.5 %)
Operating Income	7.27	6.57	(9.6 %)
Net Income	6.61	5.78	(12.5 %)
Average Shares	2.00	2.00	-
EPS (Riyals)	3.30	2.89	(12.5 %)

Shareholders’ equity (no minority interest) amounted to SAR 31.2 million, compared to SAR 23.3 million in the year-ago period.

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