Nayifat H1 2024 profits up 3% to SAR 55.5M; Q2 at SAR 38.3M

05/09/2024 Argaam Exclusive

View other reports

Nayifat Finance Co. reported a net profit of SAR 55.5 million in H1 2024, an increase of 3% from SAR 53.7 million in the year-earlier period.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Net income from finance commissions	134.83	110.58	(18.0 %)
Net Income	53.71	55.49	3.3 %
Average Shares	120.00	120.00	-
EPS (Riyals)	0.45	0.46	3.3 %

The profit increase is driven by lower expected credit impairment provision because of enhanced write-off recoveries and reduced impairment provisions. This was partially offset by lower revenues under consumer financing segments.

This came despite a decrease in revenues, mainly due to the diversification in product segments and income suspension from delinquent customers.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2023	Q2 2024	Change‬
Net income from finance commissions	66.93	61.38	(8.3 %)
Net Income	21.25	38.32	80.3 %
Average Shares	120.00	120.00	-
EPS (Riyals)	0.18	0.32	80.3 %

Item	Q1 2024	Q2 2024	Change‬
Net income from finance commissions	49.20	61.38	24.7 %
Net Income	17.18	38.32	123.1 %
Average Shares	120.00	120.00	-
EPS (Riyals)	0.14	0.32	123.1 %

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.

×