Financial Results : Lamasat profit up 40% to SAR 31.4M in 2024; H2 at SAR 14.2M

Lamasat profit up 40% to SAR 31.4M in 2024; H2 at SAR 14.2M

19/03/2025 Argaam Exclusive

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Lamasat Co. posted a net profit of SAR 31.4 million in 2024, up 40% from SAR 22.4 million a year earlier, on gains from opening three new branches.



Financials (M)

Item 2023 2024 Change‬
Revenues 121.46 137.47 13.2 %
Gross Income 30.78 36.45 18.4 %
Operating Income 20.68 29.95 44.8 %
Net Income 22.41 31.41 40.1 %
Average Shares 75.00 75.00 -
Earnings Per Share before unusual items (Riyals) 0.30 0.42 40.1 %
EPS (Riyal) 0.30 0.42 40.1 %

In H2 2024, net earnings fell 10% to SAR 14.2 million from SAR 15.7 million in H2 2023.

 

Sequentially, net profit declined 17.3% from SAR 17.19 million in H1 2024.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 64.61 67.61 4.6 %
Gross Income 19.55 16.08 (17.8 %)
Operating Income 15.07 13.97 (7.3 %)
Net Income 15.78 14.22 (9.9 %)
Average Shares 75.00 75.00 -
Earnings Per Share before unusual items (Riyal) 0.21 0.19 (9.9 %)
EPS (Riyal) 0.21 0.19 (9.9 %)

Total shareholders’ equity rose to SAR 129.67 million by the end of 2024, compared to SAR 107.06 million a year earlier.

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