Financial Results : Farm Superstores profit rises 17% to SAR 25.4M in 2024; Q4 at SAR 5M

Farm Superstores profit rises 17% to SAR 25.4M in 2024; Q4 at SAR 5M

27/03/2025 Argaam Exclusive

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Saudi Marketing Co. (Farm Superstores) reported a net profit of SAR 25.4 million in 2024, a 17% increase compared to SAR 21.8 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 1,813.41 1,835.21 1.2 %
Gross Income 547.28 583.64 6.6 %
Operating Income 77.53 102.19 31.8 %
Net Income 21.79 25.43 16.7 %
Average Shares 45.00 45.00 -
Earnings Per Share before unusual items (Riyals) 0.48 0.83 72.2 %
EPS (Riyal) 0.48 0.57 16.7 %

This was spurred by an increase of SAR 21.8 million in revenue on higher earnings from entertainment division and Farm Superstores branches for 2024. Additionally, gross profit increased by SAR 36.3 million, while operating expenses grew SAR 11.7 million for the same year.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 454.99 469.13 3.1 %
Gross Income 137.51 152.00 10.5 %
Operating Income 20.98 27.66 31.8 %
Net Income 3.07 4.96 61.6 %
Average Shares 45.00 45.00 -
Earnings Per Share before unusual items (Riyal) 0.07 0.11 61.6 %
EPS (Riyal) 0.07 0.11 61.6 %

Q4 2024 net earnings jumped 62% to SAR 5 million, from SAR 3.07 million in Q4 2023.

 

Sequentially, the bottom line dropped 30% from SAR 7.09 million in Q3 2024.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 684.95 million by Dec. 31, 2024, compared to SAR 660.58 million a year earlier.

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