National Building and Marketing Co.’s net profit (excluding minority interest) dropped to SAR 15.2 million in the first half of 2024, down 42% from SAR 26.2 million in the year before.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 316.46 | 345.86 | 9.3 % |
| Net Income | 26.24 | 15.24 | (41.9 %) |
| Average Shares | 12.00 | 12.00 | - |
| EPS (Riyals) | 2.19 | 1.27 | (41.9 %) |
This earnings decline was mainly due to a 39.29% year-on-year (YoY) rise in financing costs for the first six months of the year.
However, sales in the iron, billet, and reinforcement sectors improved by 12.43% YoY for the same period.
Shareholders’ equity, after minority interest, reached SAR 310.44 million as of June 30, 2024, compared to SAR 291.45 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenues (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2021 |
298.03 |
25.09 |
2.09 |
|
H2 2021 |
380.39 |
48.31 |
4.03 |
|
H1 2022 |
320.75 |
32.65 |
2.72 |
|
H2 2022 |
331.44 |
6.09 |
0.51 |
|
H1 2023 |
316.46 |
26.24 |
2.19 |
|
H2 2023 |
384.15 |
4.37 |
0.36 |
|
H1 2024 |
345.86 |
15.24 |
1.27 |
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