Raoom Trading 9M 2024 net profit up 8% to SAR 39.2M

04/11/2024 Argaam Exclusive

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Raoom Trading Co. reported a net profit of SAR 39.2 million for the first nine months of 2024, up 8% from SAR 36.4 million in the year-earlier period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	100.61	87.11	(13.4 %)
Gross Income	32.97	30.06	(8.8 %)
Operating Income	24.21	19.90	(17.8 %)
Net Income	36.43	39.28	7.8 %
Average Shares	6.25	6.25	-
EPS (Riyals)	5.83	6.29	7.8 %

Q3 2024 net profit stood at SAR 11 million, an increase from SAR 8.74 million in the third quarter last year. The third-quarter profit growth was dented by the 15% year-on-year topline drop to SAR 27.3 million amid lower average selling prices.

On a sequential basis, net earnings more than doubled from SAR 4.4 million in Q2 2024. This came as revenues advanced by 2% quarter-on-quarter (QoQ) to SAR 27.3 million, driven by the elevated sales volumes.

Current Half Annual Comparison (M)

Compared With The

Item	2023	2024	Change‬
Revenues	32.13	27.32	(15.0 %)
Gross Income	11.47	8.31	(27.6 %)
Operating Income	8.62	4.46	(48.3 %)
Net Income	8.74	10.97	25.5 %
Average Shares	6.25	6.25	-
EPS (Riyals)	1.40	1.76	25.5 %

Total shareholders’ equity (no minority interest) advanced to SAR 161.96 million by Sept. 30, 2024, compared to SAR 129.19 million a year earlier.

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