Financial Results : Al-Fakhera profit dips 21% to SAR 14.8M in 2024; H2 at SAR 6.2M

Al-Fakhera profit dips 21% to SAR 14.8M in 2024; H2 at SAR 6.2M

12/03/2025 Argaam Exclusive

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Al-Fakhera for Men’s Tailoring Co. reported a 21% drop in its 2024 net profit to SAR 14.8 million, compared to SAR 18.7 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 98.20 113.55 15.6 %
Gross Income 55.56 64.80 16.6 %
Operating Income 20.28 19.45 (4.1 %)
Net Income 18.72 14.76 (21.1 %)
Average Shares 30.00 36.00 20.0 %
Earnings Per Share before unusual items (Riyals) 0.62 0.41 (34.3 %)
EPS (Riyal) 0.62 0.41 (34.3 %)

The annual net profit decline was attributed to higher selling and marketing expenses, as well as finance costs.

 

This was, however, offset by higher revenues on a change in the sales mix. The company also restructured its branch portfolio and shifted to strategic locations. Al-Fakhera also enhanced marketing efficiency and acquired new customers.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 47.06 59.02 25.4 %
Gross Income 26.11 33.83 29.6 %
Operating Income 6.63 9.56 44.2 %
Net Income 5.93 6.22 4.8 %
Average Shares 30.00 36.00 20.0 %
Earnings Per Share before unusual items (Riyal) 0.20 0.17 (12.7 %)
EPS (Riyal) 0.20 0.17 (12.7 %)

The second-half net earnings grew 5% to SAR 6.2 million from SAR 5.9 million in H2 2023.

 

Compared to H1 2024, net earnings fell by 27.2% from SAR 8.5 million.

 

Shareholders’ equity, no minority interest, reached SAR 84.8 million as of Dec. 31, 2024, up from SAR 55.8 million a year earlier.

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