Raoom Trading Co. reported a net profit rise of 2% to SAR 28.3 million in the first half of 2024, compared to SAR 27.7 million a year earlier, thanks to the lower cost of goods sold.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 68.48 | 59.80 | (12.7 %) |
| Gross Income | 21.51 | 21.75 | 1.1 % |
| Operating Income | 15.59 | 15.44 | (1.0 %) |
| Net Income | 27.69 | 28.31 | 2.2 % |
| Average Shares | 6.25 | 6.25 | - |
| EPS (Riyals) | 4.43 | 4.53 | 2.2 % |
On the other hand, operating profits marginally declined to SAR 15.4 million in the six-month period, from SAR 15.6 million in H1 2023.
Sales also decreased by 12.67% year-on-year (YoY) to SAR 59.8 million, from SAR 68.5 million in the first half of 2023.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 30.44 | 26.78 | (12.0 %) |
| Gross Income | 7.58 | 7.84 | 3.4 % |
| Operating Income | 4.12 | 4.94 | 20.0 % |
| Net Income | 14.84 | 4.36 | (70.6 %) |
| Average Shares | 6.25 | 6.25 | - |
| EPS (Riyals) | 2.37 | 0.70 | (70.6 %) |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 33.01 | 26.78 | (18.9 %) |
| Gross Income | 13.91 | 7.84 | (43.6 %) |
| Operating Income | 10.50 | 4.94 | (53.0 %) |
| Net Income | 23.95 | 4.36 | (81.8 %) |
| Average Shares | 6.25 | 6.25 | - |
| EPS (Riyals) | 3.83 | 0.70 | (81.8 %) |
The second-quarter net profit tumbled 71% to SAR 4.4 million, from SAR 14.8 million in Q3 2023 as Raoom recorded SAR 11.5 million profits from revaluation of financial assets at fair value in Q2 2023.
Operating profits jumped 20% YoY to SAR 4.9 million.
The company’s net earnings slumped 81.8% from SAR 23.9 million in Q1 2024 hurt by a 53% quarterly fall in operating profits to SAR 4.9 million.
Shareholders’ equity, no minority interest, stood at SAR 155.34 million as of June 30, 2024, compared to SAR 128.35 million a year earlier.
|
Historical Quarterly Data |
|||
|
Period |
Revenues (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR/Share) |
|
H1 2020 |
55.67 |
16.05 |
2.57 |
|
H2 2020 |
53.19 |
10.02 |
1.60 |
|
H1 2021 |
55.72 |
15.40 |
2.46 |
|
H2 2021 |
54.47 |
9.49 |
1.52 |
|
H1 2022 |
65.04 |
16.24 |
2.60 |
|
H2 2022 |
70.19 |
14.50 |
2.32 |
|
H1 2023 |
68.48 |
27.69 |
4.43 |
|
H2 2023 |
66.56 |
18.89 |
3.02 |
|
H1 2024 |
59.80 |
28.31 |
4.53 |
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