Morabaha Marina Financing Co. (MRNA) posted a net profit of SAR 20 million in the first nine months of 2024, a fall of 50% from SAR 40.1 million in the prior-year period.
Item | 9m 2023 | 9m 2024 | Change |
---|---|---|---|
Net income from finance commissions | 91.68 | 95.45 | 4.1 % |
Net Income | 40.05 | 19.98 | (50.1 %) |
Average Shares | 71.43 | 71.43 | - |
EPS (Riyals) | 0.56 | 0.28 | (50.1 %) |
The nine-month profit drop was due to higher commission costs and increased impairment losses, despite revenue gains from new financing and effective marketing and sales.
Item | Q3 2023 | Q3 2024 | Change |
---|---|---|---|
Net income from finance commissions | 29.09 | 32.14 | 10.5 % |
Net Income | 9.44 | 8.20 | (13.1 %) |
Average Shares | 71.43 | 71.43 | - |
EPS (Riyals) | 0.13 | 0.11 | (13.1 %) |
Item | Q2 2024 | Q3 2024 | Change |
---|---|---|---|
Net income from finance commissions | 30.39 | 32.14 | 5.8 % |
Net Income | 6.43 | 8.20 | 27.6 % |
Average Shares | 71.43 | 71.43 | - |
EPS (Riyals) | 0.09 | 0.11 | 27.6 % |
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