Financial Results : Al Razi profit falls 74% to SAR 176,000 in 2024; H2 at SAR 166,000

Al Razi profit falls 74% to SAR 176,000 in 2024; H2 at SAR 166,000

27/03/2025 Argaam Exclusive

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Al Razi Medical Co. recorded a 74% drop in net profit to SAR 176,000 for 2024 from SAR 686,000 a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 61.33 61.35 0.0 %
Gross Income 17.58 16.59 (5.7 %)
Operating Income 1.33 0.43 (67.3 %)
Net Income 0.69 0.18 (74.4 %)
Average Shares 1.52 1.52 -
Earnings Per Share before unusual items (Riyals) 0.45 0.12 (74.4 %)
EPS (Riyal) 0.45 0.12 (74.4 %)

The company invested in promotional offers to support sales of non-pharmaceutical products along with the increased selling and distribution expenses for new and growing branches to achieve sales targets.

 

However, Al Razi recorded a slight increase in revenue by SAR 17,588, or 0.028%, compared to 2023.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 30.79 30.15 (2.1 %)
Gross Income 8.43 8.40 (0.4 %)
Operating Income 0.33 0.21 (37.5 %)
Net Income 0.08 0.17 108.2 %
Average Shares 1.52 1.52 -
Earnings Per Share before unusual items (Riyal) 0.05 0.11 108.2 %
EPS (Riyal) 0.05 0.11 108.2 %

In H2 2024, the company’s net earnings more than doubled to SAR 166,000 from SAR 0.08 million in the second half of 2023.

 

On a half-on-half basis, net earnings skyrocketed from SAR 0.01 million in H1 2024.

 

Shareholders’ equity, no minority interest, rose to SAR 22.6 million as of Dec. 31, 2024, from SAR 22.4 million a year earlier.

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