Financial Results : Future Vision’s profits down 12% to SAR 689,000 in H1 2024

Future Vision’s profits down 12% to SAR 689,000 in H1 2024

06/03/2025 Argaam Exclusive

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Future Vision for Health Training Co., which is under listing for an IPO on Nomu, reported a profit decline of 12% to SAR 689,000 in the first half of 2024, compared to SAR 786,000 in H1 2023.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 7.48 7.15 (4.5 %)
Gross Income 3.91 3.58 (8.4 %)
Operating Income 0.98 0.82 (15.8 %)
Net Income 0.79 0.69 (12.3 %)
Average Shares 8.00 8.00 -
Earnings Per Share before unusual items (Riyals) 0.10 0.09 (12.3 %)
EPS (Riyals) 0.10 0.09 (12.3 %)

The company attributed the profit decline to a decrease in revenue for the current period, which fell to SAR 7.15 million from SAR 7.48 million a year ago.

 

Additionally, the gross profit margin declined to 50%, down from 52% in H1 2023, due to an increase in the cost-to-revenue ratio to 50%.

 

The operating profit margin also dropped to 11.5% in H1 2024, compared to 13% in H1 2023, despite a reduction in general and administrative expenses.

 

Meanwhile, EBITDA increased to SAR 1.3 million in the current period, up from SAR 1.2 million in the year-ago period.

 

Total shareholders’ equity (after minority interest) grew to SAR 10.33 million by the end H1 2024, versus SAR 6.56 million in the same period of last year.

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