Financial Results : AME profit rises 20% to SAR 26.6M in H1 2024

AME profit rises 20% to SAR 26.6M in H1 2024

22/08/2024 Argaam Exclusive

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AME Company for Medical Supplies posted a net profit rise of 20% to SAR 26.6 million in H1 2024 from SAR 22.2 million in H1 2023.

The profit growth was attributed to higher sales of medical supplies and devices by SAR 13.48 million.

 

This increase resulted from the company's acquisition of a larger market share, which reflected growth in sales driven by increased market demand and effective sales strategies by acquiring new customers and introducing new products to the same existing customers. 

 

The company advertised and marketed products. It also appointed new employees in the sales and marketing departments for greater coverage and faster response to customers.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 120.34 133.46 10.9 %
Gross Income 55.69 58.18 4.5 %
Operating Income 24.01 27.42 14.2 %
Net Income 22.20 26.59 19.8 %
Average Shares 7.00 7.00 -
Earnings Per Share before unusual items (Riyal) 3.17 3.80 19.8 %
EPS (Riyal) 3.17 3.80 19.8 %

Shareholders’ equity, with no minority interest, reached SAR 139.7 million as of June 30, 2024, up from SAR 115.5 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2020

44.66

4.18

0.60

H2 2020

76.94

16.89

2.41

H1 2021

69.78

7.50

1.07

H2 2021

81.61

13.72

1.96

H1 2022

108.35

15.38

2.20

H2 2022

84.82

11.30

1.61

H1 2023

120.34

22.20

3.17

H2 2023

102.98

11.32

1.62

H1 2024

133.82

26.59

3.80

 

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