Financial Results : Miahona Q1 2025 profit surges 209% to SAR 61.8M

Miahona Q1 2025 profit surges 209% to SAR 61.8M

14/05/2025 Argaam Exclusive

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Miahona Co. posted a 209% year-on-year (YoY) surge in its Q1 2025 net profit to SAR 61.8 million from SAR 20 million.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 81.60 175.20 114.7 %
Gross Income 20.80 61.80 197.1 %
Operating Income 23.10 65.90 185.3 %
Net Income 20.00 61.80 209.0 %
Average Shares 160.93 160.93 -
Earnings Per Share before unusual items (Riyals) 0.12 0.38 209.0 %
EPS (Riyals) 0.12 0.38 209.0 %

The strong profit growth was buoyed by an increase in consolidated revenues during the three-month period, due to higher construction revenues and project development revenues related to a new project.

 

The company also cited a rise in other income and financing income.

 

However, Miahona reported higher cost of revenues and a rise in general and administrative expenses during the first three months of this year.

 

Sequentially, the company turned to earnings from losses of SAR 3.80 million in Q4 2024, spurred by robust consolidated revenues.

 

Shareholders' equity, after minority interest, soared to SAR 495.5 million by the end of Q1 2025, compared to SAR 411.5 million in the same period a year earlier.

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