Fourth Milling Co. (MC4) posted a net profit of SAR 138.9 million for the first nine months of 2025, a rise of 7.8% from SAR 128.8 million in the corresponding period of 2024.
| Item | 9m 2024 | 9m 2025 | Change | 
|---|---|---|---|
| Revenues | 462.29 | 479.78 | 3.8 % | 
| Gross Income | 213.67 | 223.83 | 4.8 % | 
| Operating Income | 144.80 | 144.93 | 0.1 % | 
| Net Income | 128.83 | 138.87 | 7.8 % | 
| Average Shares | 540.00 | 540.00 | - | 
| Earnings Per Share before unusual items (Riyals) | 0.24 | 0.26 | 5.6 % | 
| EPS (Riyal) | 0.24 | 0.26 | 7.8 % | 
The profit was spurred by 3.8% year-on-year (YoY) revenue growth, mainly driven by a 9% increase in flour sales, despite lower revenues from bran and feed products.
Gross profit rose 4.8% YoY, backed by a 48% rise in Shariah-compliant deposit income and a 52% decline in Zakat and tax expenses.
These gains, however, were partially offset by a 35% rise in selling and distribution expenses and a 3% increase in general and administrative expenses.
| Item | Q3 2024 | Q3 2025 | Change | 
|---|---|---|---|
| Revenues | 159.93 | 169.03 | 5.7 % | 
| Gross Income | 77.19 | 79.49 | 3.0 % | 
| Operating Income | 52.87 | 53.01 | 0.3 % | 
| Net Income | 47.06 | 52.12 | 10.7 % | 
| Average Shares | 540.00 | 540.00 | - | 
| Earnings Per Share before unusual items (Riyal) | 0.09 | 0.10 | 4.8 % | 
| EPS (Riyal) | 0.09 | 0.10 | 10.7 % | 
| Item | Q2 2025 | Q3 2025 | Change | 
|---|---|---|---|
| Revenues | 140.60 | 169.03 | 20.2 % | 
| Gross Income | 62.36 | 79.49 | 27.5 % | 
| Operating Income | 37.70 | 53.01 | 40.6 % | 
| Net Income | 34.05 | 52.12 | 53.0 % | 
| Average Shares | 540.00 | 540.00 | - | 
| Earnings Per Share before unusual items (Riyal) | 0.06 | 0.10 | 53.0 % | 
| EPS (Riyal) | 0.06 | 0.10 | 53.0 % | 
In Q3 2025, MC4’s net earnings rose by 10.7% to SAR 52.1 million, from SAR 47 million in the prior-year period.
Sequentially, net earnings climbed by 53% from SAR 34 million in Q2 2025.
Total shareholders’ equity, no minority interest, reached SAR 733.10 million as of Sept. 30, 2025, up from SAR 730.49 million a year earlier.
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