Financial Results : Riyadh Cables Q1 2024 profit after minorities up 36% to SAR 170.2M

Riyadh Cables Q1 2024 profit after minorities up 36% to SAR 170.2M

13/05/2024 Argaam Exclusive

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Riyadh Cables Group Co. reported a net profit after minority interest of SAR 171.2 million in Q1 2024, up 36% from SAR 124.9 million in the year earlier period, spurred higher revenue on increased sales volume.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 1,937.28 2,031.55 4.9 %
Gross Income 218.74 283.20 29.5 %
Operating Income 167.61 215.15 28.4 %
Net Income 124.92 170.22 36.3 %
Average Shares 150.00 150.00 -
EPS (Riyals) 0.83 1.13 36.3 %

On a sequential basis, net earnings grew 26.9% from SAR 134.15 million in Q4 2023.

 

Total shareholders’ equity, after minority interest, stood at SAR 2.43 billion as of March 31, 2024, compared to SAR 2.26 billion in the prior-year period.

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