Development Works posts SAR 2.6M profit in 9M 2024, SAR 376,000 in Q3

07/11/2024 Argaam Exclusive

View other reports

Development Works Food Co. turned to a net profit of SAR 2.6 million in the first nine months of 2024 from a net loss of 1.9 million a year earlier due to higher sales and lower general and administrative expenses.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	70.74	76.66	8.4 %
Gross Income	3.76	8.49	125.7 %
Operating Income	(3.99)	1.41	135.4 %
Net Income	(1.88)	2.61	238.6 %
Average Shares	3.00	3.00	-
EPS (Riyals)	(0.63)	0.87	238.6 %

In Q3 2024, net profit fell by 29.8% to SAR 376,000 from SAR 530,000 in Q3 2023.

Sequentially, Q3 profit dipped 63.8% from SAR 1.04 million in Q2 2024.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	23.86	25.91	8.6 %
Gross Income	1.46	2.66	82.0 %
Operating Income	(1.02)	(0.45)	56.2 %
Net Income	0.53	0.38	(29.8 %)
Average Shares	3.00	3.00	-
EPS (Riyals)	0.18	0.13	(29.8 %)

Item	Q2 2024	Q3 2024	Change‬
Revenues	26.90	25.91	(3.7 %)
Gross Income	3.12	2.66	(15.0 %)
Operating Income	1.08	(0.45)	(141.4 %)
Net Income	1.04	0.38	(63.8 %)
Average Shares	3.00	3.00	-
EPS (Riyals)	0.35	0.13	(63.8 %)

Accumulated losses reached SAR 2.77 million by Sept. 30, 2024, accounting for 9% of capital.

Total shareholders’ equity, after minority interest, declined to SAR 27.56 million as of Sept. 30, 2024, up from SAR 27.39 million in the prior-year period.

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.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

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

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.

×