Perfect Presentation for Commercial Services Co. (2P) reported a net profit of SAR 163.3 million in 2024, an increase of 26% compared to SAR 129.3 million in 2023.
Item | 2023 | 2024 | Change |
---|---|---|---|
Revenues | 1,129.67 | 1,071.03 | (5.2 %) |
Gross Income | 210.41 | 250.92 | 19.3 % |
Operating Income | 165.02 | 169.18 | 2.5 % |
Net Income | 129.29 | 163.34 | 26.3 % |
Average Shares | 300.00 | 300.00 | - |
Earnings Per Share before unusual items (Riyals) | 0.42 | 0.40 | (2.9 %) |
EPS (Riyal) | 0.43 | 0.54 | 26.3 % |
Gross profit margin increased from 18.6% in 2023 to 23.43% in 2024, driven by higher profitability in some completed projects and the execution of projects on an agent basis.
The company also recorded capital gains of SAR 31 million.
Meanwhile, 2024 revenue decreased by 5% to SAR 1.07 billion, due to the completion of certain projects.
Due to delays in collecting receivables from certain projects as per the scheduled timelines, finance costs as a percentage of revenue increased from 3.3% in 2023 to 3.9% in 2024. Expected credit loss provisions increased to SAR 30.7 million in 2024, compared to SAR 12.5 million in 2023.
Item | Q4 2023 | Q4 2024 | Change |
---|---|---|---|
Revenues | 387.91 | 295.80 | (23.7 %) |
Gross Income | 55.34 | 83.46 | 50.8 % |
Operating Income | 43.70 | 46.35 | 6.1 % |
Net Income | 33.35 | 37.93 | 13.7 % |
Average Shares | 300.00 | 300.00 | - |
Earnings Per Share before unusual items (Riyal) | 0.10 | 0.10 | 2.3 % |
EPS (Riyal) | 0.11 | 0.13 | 13.7 % |
Item | Q3 2024 | Q4 2024 | Change |
---|---|---|---|
Revenues | 268.60 | 295.80 | 10.1 % |
Gross Income | 59.07 | 83.46 | 41.3 % |
Operating Income | 40.11 | 46.35 | 15.6 % |
Net Income | 36.95 | 37.93 | 2.7 % |
Average Shares | 300.00 | 300.00 | - |
Earnings Per Share before unusual items (Riyal) | 0.10 | 0.10 | 0.4 % |
EPS (Riyal) | 0.12 | 0.13 | 2.7 % |
Q4 2024 net earnings grew 14% to SAR 37.9 million, compared to SAR 33.35 million in Q4 2023.
Sequentially, bottom-line rose 2.7% from SAR 36.9 million in Q3 2024.
Total shareholders’ equity, no minority interest, stood at SAR 544.44 million by Dec. 31, 2024, compared to SAR 382.02 million a year earlier.
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