FAD posts SAR 4.3M profit in 2024; H2 loss at SAR 10.7M

26/03/2025 Argaam Exclusive

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Fad International Co. (FAD) reported a net profit of SAR 4.3 million in 2024, up from SAR 261,500 in 2023.



Financials (Million Riyal)

Item 2023 2024 Change‬
Revenues 163.96 156.78 (4.4 %)
Gross Income 102.39 100.76 (1.6 %)
Operating Income 4.83 7.12 47.6 %
Net Income 0.26 4.34 1560.1 %
Average Shares 1.20 1.20 -
Earnings Per Share before unusual items (Riyals) 0.22 3.62 1560.1 %
EPS (Riyal) 0.22 3.62 1560.1 %

The profit increase is driven by the decrease in general and administrative expenses, the reversal of impairment on financial assets, lower finance costs and reversal of inventory provision.

 

Meanwhile, revenues fell 4.37% year-on-year (YoY) as retail earnings edged down by SAR 3.6 million and wholesale revenue fell by SAR 4.7 million. E-commerce revenue increased by SAR 1.1 million.



Current Half Annual Comparison (Million Riyal)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 53.65 51.68 (3.7 %)
Gross Income 31.38 33.40 6.4 %
Operating Income (15.11) (9.96) 34.1 %
Net Income (17.00) (10.75) 36.8 %
Average Shares 1.20 1.20 -
Earnings Per Share before unusual items (Riyal) (14.17) (8.96) 36.8 %
EPS (Riyal) (14.17) (8.96) 36.8 %

In H2 2024, the company narrowed losses to SAR 10.75 million, from SAR 17 million in H2 2023.

 

Sequentially, the company turned to a loss against a profit of SAR 15.09 million in H1 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 20.86 million by Dec. 31, 2024, compared to SAR 16.86 million a year ago.

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