Financial Results : Naas Petrol H1 2024 net profit rises 36% to SAR 5.1M

Naas Petrol H1 2024 net profit rises 36% to SAR 5.1M

28/08/2024 Argaam Exclusive

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Naas Petrol Factory Co. posted a SAR 5.1 million net profit for H1 2024, an increase of 36% from SAR 3.8 million a year ago.

The profit growth was driven by an annual decline in cost of sales by 18%, which led to higher gross profit. In addition, the company reported lower selling, distribution and Zakat expenses.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 45.12 40.44 (10.4 %)
Gross Income 8.16 10.20 25.0 %
Operating Income 4.15 5.44 31.2 %
Net Income 3.74 5.07 35.8 %
Average Shares 3.00 3.00 -
Earnings Per Share before unusual items (Riyal) 1.25 1.69 35.8 %
EPS (Riyal) 1.25 1.69 35.8 %

Shareholders equity, no minority interest, rose to SAR 56.11 million by the end of June 30, 2024, compared to SAR 45.97 million in the year-ago period.

 

Historical Data

Period

Revenues

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2023

45.12

3.74

1.25

H2 2023

46.24

4.96

1.65

H1 2024

40.44

5.07

1.69

 

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