CATRION profit up 19% to SAR 144.4M in H1 2024; Q2 at SAR 73.2M

04/08/2024 Argaam Exclusive

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CATRION Catering Holding Co.’s net profit rose 19% to SAR 144.4 million in H1 2024, from SAR 120.9 million in H1 2023.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	1,018.66	1,117.62	9.7 %
Gross Income	267.53	301.89	12.8 %
Operating Income	128.04	136.77	6.8 %
Net Income	120.86	144.41	19.5 %
Average Shares	82.00	82.00	-
EPS (Riyals)	1.47	1.76	19.5 %

The annual profit increase was driven by higher sales as a result of expanded flight operations during the six-month period.

In Q2 2024, the company’s net profit grew by 15% to SAR 73.18 million, versus SAR 63.73 million in the prior-year period.

Sequentially, net income jumped 2.7% from SAR 71.22 million in Q1 2024.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2023	Q2 2024	Change‬
Revenues	497.08	564.81	13.6 %
Gross Income	124.89	149.44	19.7 %
Operating Income	65.76	68.40	4.0 %
Net Income	63.73	73.18	14.8 %
Average Shares	82.00	82.00	-
EPS (Riyals)	0.78	0.89	14.8 %

Item	Q1 2024	Q2 2024	Change‬
Revenues	552.81	564.81	2.2 %
Gross Income	152.46	149.44	(2.0 %)
Operating Income	68.37	68.40	0.0 %
Net Income	71.23	73.18	2.7 %
Average Shares	82.00	82.00	-
EPS (Riyals)	0.87	0.89	2.7 %

Total shareholders’ equity, no minority interest, rose to SAR 1.34 billion as of June 30, 2024, from SAR 1.2 billion in the year-earlier period.

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