Financial Results : Development Works Food swings to SAR 1.2M profit in Q1 2024

Development Works Food swings to SAR 1.2M profit in Q1 2024

16/05/2024 Argaam Exclusive

View other reports

Development Works Food Co. turned to a net profit of SAR 1.2 million in Q1 2024, from SAR 2.7 million in net losses in the same period a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 19.70 23.86 21.1 %
Gross Income (0.72) 2.71 474.7 %
Operating Income (3.42) 0.78 122.9 %
Net Income (2.73) 1.19 143.7 %
Average Shares 3.00 3.00 -
EPS (Riyals) (0.91) 0.40 143.7 %

This was due to higher revenues and lower general & administrative expenses for the first three months of the year.

 

On a sequential basis, the company turned profitable from a net loss of SAR 2.48 million in Q4 2023.

 

Total shareholders’ equity, after minority interest, dropped marginally to SAR 26.15 million as of March 31, 2024, compared to SAR 26.54 million a year earlier.

 

Accumulated losses amounted to SAR 4.19 million at the end of the three-month period, or 14% of the company's capital.

View More Financial Results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.