Financial Results : Al Kathiri’s profit drops 85% to SAR 230,000 in Q1 2024

Al Kathiri’s profit drops 85% to SAR 230,000 in Q1 2024

16/05/2024 Argaam Exclusive

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Al Kathiri Holding Co. reported a net profit of SAR 230,000 in Q1 2024, from SAR 1.6 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 32.11 45.64 42.1 %
Gross Income 5.62 5.85 4.2 %
Operating Income 2.44 2.64 8.0 %
Net Income 1.56 0.24 (84.5 %)
Average Shares 226.04 226.04 -
EPS (Halala) 0.69 0.11 (84.5 %)

The profit decline is attributed to higher cost of revenue and financing expenses.

 

Sequentially, the company turned to net profit against a loss of SAR 7.37 million in Q4 2023, on higher revenue from all segments.

 

Total shareholders’ equity, after excluding minority interest, stood at SAR 131.27 million, as of March 31, 2024, from SAR 136.77 million a year earlier.

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