Amlak International Finance Co. reported a net profit of SAR 16.8 million in H1 2024, a decline of 3% from SAR 17.4 million in the year-earlier period.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Net income from finance commissions | 84.01 | 107.10 | 27.5 % |
| Net Income | 17.35 | 16.84 | (3.0 %) |
| Average Shares | 101.93 | 101.93 | - |
| EPS (Riyals) | 0.17 | 0.17 | (3.0 %) |
Amlak attributed the profit decline to higher operating expenses and finance costs. The company also recognized SAR 12.39 million in net provision for expected credit losses in H1 2024, soaring 167.44% from SAR 4.63 million a year earlier.
Total income from special financing commission reached SAR 204.16 million in H1 2024, up 44.02% from SAR 141.75 million in H1 2023.
The company reported a net profit of SAR 8.2 million in Q2 2024, a 30% leap from SAR 6.31 million a year ago.
On a sequential basis, net earnings dropped 4.3% from SAR 8.61 million in Q1 2024.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Net income from finance commissions | 41.64 | 56.14 | 34.8 % |
| Net Income | 6.31 | 8.23 | 30.4 % |
| Average Shares | 101.93 | 101.93 | - |
| EPS (Riyals) | 0.06 | 0.08 | 30.4 % |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Net income from finance commissions | 50.96 | 56.14 | 10.2 % |
| Net Income | 8.61 | 8.23 | (4.3 %) |
| Average Shares | 101.93 | 101.93 | - |
| EPS (Riyals) | 0.08 | 0.08 | (4.3 %) |
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