Saudi Marketing Co. (Farm Superstores) posted SAR 13.4 million net profit for H1 2024, a decline of 3% year-on-year from SAR 13.8 million.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 929.16 | 916.93 | (1.3 %) |
| Gross Income | 271.13 | 286.56 | 5.7 % |
| Operating Income | 39.48 | 49.16 | 24.5 % |
| Net Income | 13.83 | 13.38 | (3.3 %) |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.31 | 0.30 | (3.3 %) |
Q2 2024 net profit rose 2% YoY to SAR 6.5 million.
The profit decline was attributed to lower revenues from the company's branches, coupled with a rise in net costs and non-operating expenses, the company said.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 449.22 | 440.06 | (2.0 %) |
| Gross Income | 134.24 | 145.94 | 8.7 % |
| Operating Income | 19.01 | 28.49 | 49.8 % |
| Net Income | 6.39 | 6.53 | 2.2 % |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.14 | 0.15 | 2.2 % |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 476.87 | 440.06 | (7.7 %) |
| Gross Income | 140.62 | 145.94 | 3.8 % |
| Operating Income | 20.67 | 28.49 | 37.8 % |
| Net Income | 6.85 | 6.53 | (4.7 %) |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.15 | 0.15 | (4.7 %) |
Shareholders' equity (after minority interest) amounted to SAR 674.1 million, compared to SAR 650.3 million in prior-year period.
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