Financial Results : CATRION Q1 2024 profit leaps 25% to SAR 71.2M

CATRION Q1 2024 profit leaps 25% to SAR 71.2M

30/04/2024 Argaam Exclusive

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Catrion Catering Holding Co. (CATRION) reported a 25% increase in Q1 2024 net profit to SAR 71.2 million, from SAR 57.1 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 521.58 552.81 6.0 %
Gross Income 142.65 152.46 6.9 %
Operating Income 62.28 68.37 9.8 %
Net Income 57.13 71.23 24.7 %
Average Shares 82.00 82.00 -
EPS (Riyals) 0.70 0.87 24.7 %

The profit growth was spurred by a 6% year-on-year (YoY) rise in revenues on flight catering and higher sales.

 

In addition, gross profit amounted to SAR 152.5 million during the three-month period, up 6.9% YoY from SAR 142.6 million.

 

Operating profit reached SAR 71.9 million by the end of Q1 2024, rising 10.4% YoY from SAR 65.2 million.

 

Compared to Q4 2023, the first-quarter net profit rose 2.6% from SAR 69.45 million, mainly due to a 0.7% hike in revenues to SAR 552.8 million and a 7.2% increase in gross profit to SAR 152.5 million.

 

Shareholders’ equity, no minority interest, reached SAR 1.26 billion by March 31, 2024, compared to SAR 1.13 billion in the year-earlier period.

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