Financial Results : Yaqeen Capital earns SAR 8.9M in H1 2024

Yaqeen Capital earns SAR 8.9M in H1 2024

08/08/2024 Argaam Exclusive

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Yaqeen Capital reported a profit fall to SAR 8.9 million in the first half of 2024, compared to SAR 37.8 million in the prior-year period.

This was due to the non-recurring transaction of selling a building owned by the company in June 2023. The company also posted an 82% fall in gain on investments at fair value through profit or loss on disposal of investment in the first six months of 2023.

 

However, this was offset by a 3% rise in operating income and a 9% decrease in operating expenses, which was mainly due to lower general and administrative expenses.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 38.92 39.96 2.7 %
Operating Income 8.66 12.64 46.0 %
Net Income 37.76 8.94 (76.3 %)
Average Shares 25.50 25.50 -
Earnings Per Share before unusual items (Riyal) 0.31 0.35 11.6 %
EPS (Riyal) 1.48 0.35 (76.3 %)

Shareholders’ equity, no minority rights, rose to SAR 267.7 million as of June 30, 2024, compared to SAR 260.1 million a year earlier.

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