Financial Results : SMASCO Q1 2025 profit rises 6% to SAR 40.5M

SMASCO Q1 2025 profit rises 6% to SAR 40.5M

14/05/2025 Argaam Exclusive

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Saudi Manpower Solutions Co. (SMASCO) posted a 6% rise in its Q1 2025 net profit to SAR 40.5 million, compared to SAR 38.3 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 477.20 498.00 4.4 %
Gross Income 59.77 69.49 16.3 %
Operating Income 40.13 46.24 15.2 %
Net Income 38.27 40.49 5.8 %
Average Shares 400.00 400.00 -
Earnings Per Share before unusual items (Riyal) 0.10 0.10 5.8 %
EPS (Riyal) 0.10 0.10 5.8 %

The increase in the first-quarter net profit was driven by a 4.4% year-on-year (YoY) topline hike, supported by improved revenues in core segments (corporate and retail) for the first three months of 2025.

 

Moreover, the company's Q1 2025 overall gross profit rose 16% YoY, on the back of increased demand for manpower services in the corporate and retail segments.

 

This came despite a 4% YoY decrease in revenues from other segments due to natural fluctuations in the company’s secondary services. General & administrative and selling & marketing expenses also increased by 24% and 15% YoY for Q1 2025.

 

Compared to Q4 2024, the three-month bottom line rose 73.1% from SAR 23.40 million.

 

Shareholders’ equity, no minority interest, amounted to SAR 586.2 million as of March 31, 2025, compared to SAR 563.66 million in the same period a year ago.

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