Al Hassan Ghazi Ibrahim Shaker Co. (Shaker) reported a 9% increase in H1 2024 net profit to SAR 48.7 million from SAR 44.7 million in the year-earlier period.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 653.96 | 758.38 | 16.0 % |
| Gross Income | 161.34 | 180.96 | 12.2 % |
| Operating Income | 48.42 | 42.88 | (11.4 %) |
| Net Income | 44.66 | 48.70 | 9.0 % |
| Average Shares | 55.50 | 55.50 | - |
| EPS (Riyals) | 0.80 | 0.88 | 9.0 % |
The higher profit was driven by a 12.3% year-on-year (YoY) rise in revenue to SAR 345.14 million, thanks to strategic measures to broaden and diversify the product range and optimize the sales mix across different sales channels.
In Q2 2024, the company’s net profit rose 4% to SAR 16.4 million from SAR 15.8 million in the prior-year period as its growth strategy continued to yield results. This lead to higher sales in the HVAC solutions segment and a more diversified and expanded product portfolio.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 307.39 | 345.14 | 12.3 % |
| Gross Income | 74.23 | 83.19 | 12.1 % |
| Operating Income | 19.82 | 11.54 | (41.8 %) |
| Net Income | 15.89 | 16.45 | 3.5 % |
| Average Shares | 55.50 | 55.50 | - |
| EPS (Riyals) | 0.29 | 0.30 | 3.5 % |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 413.24 | 345.14 | (16.5 %) |
| Gross Income | 97.77 | 83.19 | (14.9 %) |
| Operating Income | 31.35 | 11.54 | (63.2 %) |
| Net Income | 32.25 | 16.45 | (49.0 %) |
| Average Shares | 55.50 | 55.50 | - |
| EPS (Riyals) | 0.58 | 0.30 | (49.0 %) |
Sequentially, net earnings fell by 49% from SAR 32.2 million in Q1 2024.
Total shareholders’ equity, after minority interest, rose to SAR 766.16 million by the end of the six-month period, compared to SAR 697.03 million a year earlier.
Attached Documents
| Company | Estimated | Actual | Change |
|---|---|---|---|
| SAUDI KAYAN | (457.56) | (250.09) | 45.3 % |
| SASCO | 9.78 | 12.85 | 31.5 % |
| SULAIMAN ALHABIB | 522.40 | 555.03 | 6.2 % |
| SABIC AGRI-NUTRIENTS | 738.32 | 705.00 | (4.5 %) |
| SHAKER | 18.10 | 16.45 | (9.1 %) |
| CITY CEMENT | 39.98 | 27.78 | (30.5 %) |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| YANSAB | 96.28 | 224.80 | 133.5 % |
| SAUDI KAYAN | (457.56) | (250.09) | 45.3 % |
| SASCO | 9.78 | 12.85 | 31.5 % |
| SULAIMAN ALHABIB | 522.40 | 555.03 | 6.2 % |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| CITY CEMENT | 39.98 | 27.78 | (30.5 %) |
| SHAKER | 18.10 | 16.45 | (9.1 %) |
| SABIC AGRI-NUTRIENTS | 738.32 | 705.00 | (4.5 %) |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}