| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 575.26 | 540.50 | (6.0 %) |
| Gross Income | 213.62 | 176.80 | (17.2 %) |
| Operating Income | 174.77 | 134.09 | (23.3 %) |
| Net Income | 163.27 | 181.91 | 11.4 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 1.02 | 1.14 | 11.4 % |
This was driven primarily by non-recurring exceptional gains of SAR 55.27 million, resulting from the sale of a vacant land plot in the Al Riyan district, Riyadh, for SAR 124.6 million.
General, administrative, selling, and marketing expenses declined by 7.7% year-on-year (YoY) in the six-month period, reaching SAR 46.88 million.
Other income grew by SAR 4.29 million in H1 2024, compared with a year earlier.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 276.66 | 263.46 | (4.8 %) |
| Gross Income | 93.42 | 85.74 | (8.2 %) |
| Operating Income | 87.53 | 65.93 | (24.7 %) |
| Net Income | 81.85 | 117.87 | 44.0 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.51 | 0.74 | 44.0 % |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 277.04 | 263.46 | (4.9 %) |
| Gross Income | 91.06 | 85.74 | (5.8 %) |
| Operating Income | 68.17 | 65.93 | (3.3 %) |
| Net Income | 64.04 | 117.87 | 84.1 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.40 | 0.74 | 84.1 % |
In Q2 2024, net profit jumped 44% to SAR 117.9 million from SAR 81.85 million in Q2 2023, thanks to non-recurring gains of SAR 55.27 million, resulting from the sale of a vacant land plot in the Al Riyan district, Riyadh. In addition, net profit margin grew to 44.7% from 29.6% in Q2 2023.
The second-quarter net profit also leapt 84.1% from SAR 64.04 million in Q1 2024.
Shareholders’ equity, no minority interest, increased to SAR 1.91 billion as of June 30, 2024, from SAR 1.76 billion a year earlier.
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