Financial Results : MOBI’s profit surges 23% to SAR 21.7M in H1 2024

MOBI’s profit surges 23% to SAR 21.7M in H1 2024

08/08/2024 Argaam Exclusive

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MOBI Industry Co. reported a net profit leap of 23% to SAR 21.7 million in the first half of 2024 from SAR 17.6 million in the prior-year period.

The profit rise was buoyed by a 17.10% rise in sales in H1 2024, due to improving promotional plans. Moreover, the cost of sales fell by 2.47 % compared to the same period of the previous year.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 100.41 117.58 17.1 %
Gross Income 35.50 44.47 25.3 %
Operating Income 18.14 22.11 21.9 %
Net Income 17.62 21.65 22.9 %
Average Shares 50.00 50.00 -
Earnings Per Share before unusual items (Riyal) 0.35 0.43 22.9 %
EPS (Riyal) 0.35 0.43 22.9 %

Shareholders’ equity, no minority interest, slipped to SAR 74.82 million as of June 30, 2024, from SAR 77.95 million a year earlier.

 

Historical Data

Period

Revenue (SAR mln)

Net Profit (SAR mln)

EPS (SAR)

H1 2020

96.03

11.05

0.22

H2 2020

84.40

6.33

0.13

H1 2021

86.90

12.21

0.24

H2 2021

83.48

3.92

0.08

H1 2022

97.76

9.48

0.19

H2 2022

93.00

4.44

0.09

H1 2023

100.41

17.62

0.35

H2 2023

98.09

12.73

0.26

H1 2024

117.58

21.65

0.43

 

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