International Human Resources Co. (IHR) generated a net profit of SAR 4.8 million in the first half of 2025, an increase of 48% from SAR 3.3 million in the year-earlier period.
| Item | H1 2024 | H1 2025 | Change |
|---|---|---|---|
| Revenues | 76.49 | 143.84 | 88.0 % |
| Gross Income | 11.79 | 16.50 | 39.9 % |
| Operating Income | 4.44 | 6.53 | 46.9 % |
| Net Income | 3.27 | 4.85 | 48.1 % |
| Average Shares | 50.00 | 50.00 | - |
| Earnings Per Share before unusual items (Halala) | 6.55 | 9.69 | 48.1 % |
| EPS (Halala) | 6.55 | 9.69 | 48.1 % |
| Item | H2 2024 | H1 2025 | Change |
|---|---|---|---|
| Revenues | 115.77 | 143.84 | 24.2 % |
| Gross Income | 19.06 | 16.50 | (13.4 %) |
| Operating Income | 6.29 | 6.53 | 3.8 % |
| Net Income | 5.12 | 4.85 | (5.4 %) |
| Average Shares | 50.00 | 50.00 | - |
| Earnings Per Share before unusual items (Halala) | 10.25 | 9.69 | (5.4 %) |
| EPS (Halala) | 10.25 | 9.69 | (5.4 %) |
The first-half net earnings were fueled by the company’s expansion in the manpower support sector by increasing the number of workers for existing projects. IHR also signed strategic contracts with new clients in the same sector.
Additionally, gross profit climbed by 47.7% year-on-year.
Total shareholders’ equity, after minority interest, rose to SAR 54.29 million as of June 30, 2025, from SAR 45.11 million a year earlier.
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2016 | - | - | - | - | - | - |
| H2 2016 | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - |
| H1 2017 | - | - | - | - | - | - |
| H2 2017 | - | - | - | - | - | - |
| 2017 | - | - | - | - | - | - |
| H1 2018 | - | - | - | - | - | - |
| H2 2018 | - | - | - | - | - | - |
| 2018 | - | - | - | - | - | - |
| H1 2019 | - | - | - | - | - | - |
| H2 2019 | - | - | - | - | - | - |
| 2019 | - | - | - | - | - | - |
| H1 2020 | - | - | - | - | - | - |
| H2 2020 | - | - | - | - | - | - |
| 2020 | 74.85 | - | 8.48 | - | (0.09) | - |
| H1 2021 | 41.41 | - | 8.90 | - | 3.19 | - |
| H2 2021 | 36.58 | - | 6.77 | - | 0.02 | - |
| 2021 | 77.99 | 4.2 % | 15.67 | 84.7 % | 3.21 | 3777.8 % |
| H1 2022 | 39.20 | (5.3 %) | 8.99 | 1.1 % | 2.40 | (24.8 %) |
| H2 2022 | 38.04 | 4.0 % | 7.24 | 6.9 % | 4.34 | 19616.4 % |
| 2022 | 77.23 | (1.0 %) | 16.23 | 3.6 % | 6.74 | 109.8 % |
| H1 2023 | 47.82 | 22.0 % | 8.79 | (2.3 %) | 2.37 | (1.2 %) |
| H2 2023 | 64.27 | 69.0 % | 9.17 | 26.6 % | 1.84 | (57.7 %) |
| 2023 | 112.09 | 45.1 % | 17.96 | 10.6 % | 4.21 | (37.6 %) |
| H1 2024 | 76.49 | 60.0 % | 11.79 | 34.2 % | 4.44 | 87.4 % |
| H2 2024 | 115.77 | 80.1 % | 19.06 | 107.8 % | 6.29 | 242.3 % |
| 2024 | 192.26 | 71.5 % | 30.85 | 71.8 % | 10.73 | 155.1 % |
| H1 2025 | 143.84 | 88.0 % | 16.50 | 39.9 % | 6.53 | 46.9 % |
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| 2015 | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - |
| 2017 | - | - | - | - | - | - |
| 2018 | - | - | - | - | - | - |
| 2019 | - | - | - | - | - | - |
| 2020 | 74.85 | - | 8.48 | - | (0.09) | - |
| 2021 | 77.99 | 4.2 % | 15.67 | 84.7 % | 3.21 | 3777.8 % |
| 2022 | 77.23 | (1.0 %) | 16.23 | 3.6 % | 6.74 | 109.8 % |
| 2023 | 112.09 | 45.1 % | 17.96 | 10.6 % | 4.21 | (37.6 %) |
| 2024 | 192.26 | 71.5 % | 30.85 | 71.8 % | 10.73 | 155.1 % |
| Period | Net Income | Change | EPS(Halala) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Halala) |
|---|---|---|---|---|---|---|
| H1 2016 | - | - | - | - | - | - |
| H2 2016 | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - |
| H1 2017 | - | - | - | - | - | - |
| H2 2017 | - | - | - | - | - | - |
| 2017 | - | - | - | - | - | - |
| H1 2018 | - | - | - | - | - | - |
| H2 2018 | - | - | - | - | - | - |
| 2018 | - | - | - | - | - | - |
| H1 2019 | - | - | - | - | - | - |
| H2 2019 | - | - | - | - | - | - |
| 2019 | - | - | - | - | - | - |
| H1 2020 | - | - | - | - | - | - |
| H2 2020 | - | - | - | - | - | - |
| 2020 | (0.97) | - | (1.95) | - | (0.97) | (1.95) |
| H1 2021 | 3.00 | - | 6.01 | - | 3.00 | 6.01 |
| H2 2021 | (0.54) | - | (1.09) | - | (0.54) | (1.09) |
| 2021 | 2.46 | 352.8 % | 4.92 | - | 2.46 | 4.92 |
| H1 2022 | 3.72 | 23.8 % | 7.43 | - | 3.72 | 7.43 |
| H2 2022 | 0.58 | 207.5 % | 1.17 | (1.51) | 2.09 | 4.18 |
| 2022 | 4.30 | 75.0 % | 8.60 | (1.51) | 5.81 | 11.61 |
| H1 2023 | 1.65 | (55.5 %) | 3.31 | - | 1.65 | 3.31 |
| H2 2023 | 0.88 | 50.5 % | 1.76 | - | 0.88 | 1.76 |
| 2023 | 2.53 | (41.1 %) | 5.07 | - | 2.53 | 5.07 |
| H1 2024 | 3.27 | 97.9 % | 6.55 | - | 3.27 | 6.55 |
| H2 2024 | 5.12 | 482.3 % | 10.25 | - | 5.12 | 10.25 |
| 2024 | 8.40 | 231.4 % | 16.79 | - | 8.40 | 16.79 |
| H1 2025 | 4.85 | 48.1 % | 9.69 | - | 4.85 | 9.69 |
| Period | Net Income | Change | EPS(Halala) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Halala) |
|---|---|---|---|---|---|---|
| 2015 | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - |
| 2017 | - | - | - | - | - | - |
| 2018 | - | - | - | - | - | - |
| 2019 | - | - | - | - | - | - |
| 2020 | (0.97) | - | (1.95) | - | (0.97) | (1.95) |
| 2021 | 2.46 | 352.8 % | 4.92 | - | 2.46 | 4.92 |
| 2022 | 4.30 | 75.0 % | 8.60 | (1.51) | 5.81 | 11.61 |
| 2023 | 2.53 | (41.1 %) | 5.07 | - | 2.53 | 5.07 |
| 2024 | 8.40 | 231.4 % | 16.79 | - | 8.40 | 16.79 |
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2016 | - | - | - |
| H2 2016 | - | - | - |
| 2016 | - | - | - |
| H1 2017 | - | - | - |
| H2 2017 | - | - | - |
| 2017 | - | - | - |
| H1 2018 | - | - | - |
| H2 2018 | - | - | - |
| 2018 | - | - | - |
| H1 2019 | - | - | - |
| H2 2019 | - | - | - |
| 2019 | - | - | - |
| H1 2020 | - | - | - |
| H2 2020 | - | - | - |
| 2020 | 11.33 % | 1.07 % | (1.30 %) |
| H1 2021 | - | - | - |
| H2 2021 | 20.09 % | 5.12 % | 3.15 % |
| 2021 | 20.09 % | 5.12 % | 3.15 % |
| H1 2022 | 20.81 % | 4.11 % | 4.19 % |
| H2 2022 | 21.02 % | 9.62 % | 7.52 % |
| 2022 | 21.02 % | 9.62 % | 7.52 % |
| H1 2023 | 18.67 % | 8.60 % | 4.36 % |
| H2 2023 | 16.02 % | 4.39 % | 2.26 % |
| 2023 | 16.02 % | 4.39 % | 2.26 % |
| H1 2024 | 14.89 % | 5.06 % | 2.95 % |
| H2 2024 | 16.05 % | 6.00 % | 4.37 % |
| 2024 | 16.05 % | 6.27 % | 4.37 % |
| H1 2025 | 13.69 % | 5.40 % | 3.84 % |
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| 2015 | - | - | - |
| 2016 | - | - | - |
| 2017 | - | - | - |
| 2018 | - | - | - |
| 2019 | - | - | - |
| 2020 | 11.33 % | 1.07 % | (1.30 %) |
| 2021 | 20.09 % | 5.12 % | 3.15 % |
| 2022 | 21.02 % | 9.62 % | 7.52 % |
| 2023 | 16.02 % | 4.39 % | 2.26 % |
| 2024 | 16.05 % | 6.27 % | 4.37 % |
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2016 | - | - | - |
| H2 2016 | - | - | - |
| H1 2017 | - | - | - |
| H2 2017 | - | - | - |
| H1 2018 | - | - | - |
| H2 2018 | - | - | - |
| H1 2019 | - | - | - |
| H2 2019 | - | - | - |
| H1 2020 | - | - | - |
| H2 2020 | - | - | - |
| H1 2021 | 21.48 % | 8.79 % | 7.25 % |
| H2 2021 | 18.52 % | 0.97 % | (1.49 %) |
| H1 2022 | 22.95 % | 7.03 % | 9.48 % |
| H2 2022 | 19.03 % | 12.28 % | 5.49 % |
| H1 2023 | 18.38 % | 5.67 % | 3.46 % |
| H2 2023 | 14.27 % | 3.44 % | 1.37 % |
| H1 2024 | 15.42 % | 6.42 % | 4.28 % |
| H2 2024 | 16.46 % | 5.73 % | 4.43 % |
| H1 2025 | 11.47 % | 5.13 % | 3.37 % |
| Period | Shares Outstanding (M) | EPS (Halala) | Earnings Per Share before unusual items (Halala) | Book Value (BV) |
|---|---|---|---|---|
| H1 2016 | - | - | - | - |
| H2 2016 | - | - | - | - |
| H1 2017 | - | - | - | - |
| H2 2017 | - | - | - | - |
| H1 2018 | - | - | - | - |
| H2 2018 | - | - | - | - |
| H1 2019 | - | - | - | - |
| H2 2019 | - | - | - | - |
| H1 2020 | - | - | - | - |
| H2 2020 | - | - | - | - |
| H1 2021 | 50.00 | - | - | 0.38 |
| H2 2021 | 50.00 | 4.92 | 4.92 | 0.38 |
| H1 2022 | 50.00 | 6.35 | 6.35 | 0.45 |
| H2 2022 | 50.00 | 8.60 | 11.61 | 0.77 |
| H1 2023 | 50.00 | 4.48 | 7.49 | 0.83 |
| H2 2023 | 50.00 | 5.07 | 5.07 | 0.83 |
| H1 2024 | 50.00 | 8.31 | 8.31 | 0.90 |
| H2 2024 | 50.00 | 16.79 | 16.79 | 0.99 |
| H1 2025 | 50.00 | 19.94 | 19.94 | 1.09 |
| Period | Shares Outstanding (M) | EPS (Halala) | Earnings Per Share before unusual items (Halala) | Book Value (BV) |
|---|---|---|---|---|
| 2015 | - | - | - | - |
| 2016 | - | - | - | - |
| 2017 | - | - | - | - |
| 2018 | - | - | - | - |
| 2019 | - | - | - | - |
| 2020 | 50.00 | (1.95) | (1.95) | 0.32 |
| 2021 | 50.00 | 4.92 | 4.92 | 0.38 |
| 2022 | 50.00 | 8.60 | 11.61 | 0.77 |
| 2023 | 50.00 | 5.07 | 5.07 | 0.83 |
| 2024 | 50.00 | 16.79 | 16.79 | 0.99 |
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| H1 2016 | - | - | - |
| H2 2016 | - | - | - |
| H1 2017 | - | - | - |
| H2 2017 | - | - | - |
| H1 2018 | - | - | - |
| H2 2018 | - | - | - |
| H1 2019 | - | - | - |
| H2 2019 | - | - | - |
| H1 2020 | - | - | - |
| H2 2020 | - | - | - |
| H1 2021 | - | - | - |
| H2 2021 | - | - | - |
| H1 2022 | - | - | - |
| H2 2022 | 32.60 | 24.15 | 3.67 |
| H1 2023 | 66.33 | 39.66 | 3.58 |
| H2 2023 | 77.74 | 77.74 | 4.73 |
| H1 2024 | 50.56 | 50.56 | 4.65 |
| H2 2024 | 28.70 | 28.70 | 4.85 |
| H1 2025 | 30.14 | 30.14 | 5.51 |
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| 2015 | - | - | - |
| 2016 | - | - | - |
| 2017 | - | - | - |
| 2018 | - | - | - |
| 2019 | - | - | - |
| 2020 | - | - | - |
| 2021 | - | - | - |
| 2022 | 32.60 | 24.15 | 3.67 |
| 2023 | 77.74 | 77.74 | 4.73 |
| 2024 | 28.70 | 28.70 | 4.85 |
Q2 2025
2025
| Period | Salaries and wages | Operating fees | Training and Consulting |
|---|---|---|---|
| H1 2023 | 36.73 | 11.09 | - |
| H2 2023 | 52.83 | 11.43 | - |
| H1 2024 | 66.46 | 10.03 | - |
| H2 2024 | 96.54 | 18.86 | 0.38 |
| H1 2025 | 128.29 | 15.16 | 0.38 |
| Period | Salaries and wages | Operating fees | Training and Consulting |
|---|---|---|---|
| 2023 | 89.57 | 22.52 | - |
| 2024 | 163.00 | 28.89 | 0.38 |
| Current | |
| Market Cap (M Riyal) | 255.00 |
| Enterprise Value (EV) (M Riyal) | 262.56 |
| Shares Outstanding ((M)) | 50.00 |
| Book Value (BV) ( Riyal) | 1.19 |
| Par Value ( Halala) | 50.00 |
| Recurring P/E | 17.86 |
| Price/book | 4.28 |
| EV/adj EBITDA | - |
| EV/Revenues | 0.81 |
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