Marketing Home Group for Trading Co., which is in the process of listing on TASI via an IPO, posted SAR 12.8 million in net profit for the first quarter of 2025, a drop of 40% year-on-year (YoY) from SAR 21.3 million.
Item | Q1 2024 | Q1 2025 | Change |
---|---|---|---|
Revenues | 104.87 | 87.72 | (16.4 %) |
Gross Income | 59.64 | 50.99 | (14.5 %) |
Operating Income | 24.73 | 15.79 | (36.2 %) |
Net Income | 21.33 | 12.79 | (40.1 %) |
Average Shares | 16.00 | 16.00 | - |
Earnings Per Share before unusual items (Riyal) | 1.33 | 0.80 | (40.1 %) |
EPS (Riyal) | 1.33 | 0.80 | (40.1 %) |
Item | Q4 2024 | Q1 2025 | Change |
---|---|---|---|
Revenues | 107.64 | 87.72 | (18.5 %) |
Gross Income | 57.07 | 50.99 | (10.7 %) |
Operating Income | 19.47 | 15.79 | (18.9 %) |
Net Income | 16.11 | 12.79 | (20.6 %) |
Average Shares | 16.00 | 16.00 | - |
Earnings Per Share before unusual items (Riyal) | 1.01 | 0.80 | (20.6 %) |
EPS (Riyal) | 1.01 | 0.80 | (20.6 %) |
The YoY profit decline was attributed to a 16% annual decrease in topline due to lower revenue across all segments in Q1 2025, despite the YoY rise in gross profit margin to 58% from 57% a year earlier. This is in addition to higher financing costs (FCs) related to lease obligations.
Moreover, the company’s Zakat and tax expenses rose during the three-month period, while net profit margin went down YoY from 20% to 15% in Q1 2025. EBITDA also decreased YoY from SAR 30.8 million in Q1 2024 to SAR 22.8 million.
Total shareholders’ equity, after minority interest, amounted to SAR 326.04 million in Q1 2025, compared to SAR 314.56 million in the same period a year earlier.
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