Financial Results : Al-Omran turns to SAR 127,000 profit in Q1 2024

Al-Omran turns to SAR 127,000 profit in Q1 2024

19/05/2024 Argaam Exclusive

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Al-Omran Industrial Trading Co. turned to a net profit of SAR 127,000 in Q1 2024, against a net profit of SAR 633,000 in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 41.43 47.92 15.6 %
Gross Income 6.22 7.29 17.2 %
Operating Income 0.74 0.97 30.5 %
Net Income (0.63) 0.13 120.0 %
Average Shares 10.21 12.00 17.6 %
Earnings Per Share before unusual items (0.06) 0.01 117.0 %
EPS (Riyals) (0.06) 0.01 117.0 %

The profit growth was spurred by strong sales from reactivating sales with old customers, adding some reputable customers to the company’s customer list, and opening new markets.

 

The company also cited a 15.60% year-on-year (YoY) leap in sales value, with the ratio of cost of sales to sales and expense ratio remaining stable.

 

Compared to Q4 2023, the company turned profitable from a loss of SAR 7 million, mainly driven by higher sales.

 

Shareholders’ equity reached SAR 158.83 million as of March 31, 2024, compared to SAR 114.29 million in the year-earlier period.

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