Financial Results : SACO swings to profit of SAR 5.1M in Q1 2025

SACO swings to profit of SAR 5.1M in Q1 2025

15/05/2025 Argaam Exclusive

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Saudi Company for Hardware (SACO) reported a net profit of SAR 5.1 million in Q1 2025, against SAR 4.6 million in losses a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 232.60 261.32 12.4 %
Gross Income 33.87 38.25 13.0 %
Operating Income (0.78) 8.09 1140.9 %
Net Income (4.55) 5.07 211.5 %
Average Shares 36.00 36.00 -
Earnings Per Share before unusual items (Riyal) (0.13) 0.14 211.5 %
EPS (Riyal) (0.13) 0.14 211.5 %

The net profit came thanks to increased sales and the continuous improvement in the results of the logistics services division at subsidiary Medscan. This is in addition to the reduction in general and administrative costs.

 

Sequentially, the company’s net profit grew 47.8% from SAR 3.43 million because of lower expected credit losses.

 

Shareholders’ equity, no minority interest, stood at SAR 331.15 million as of March 31, 2025, compared to SAR 335.06 million a year earlier.

 

Accumulated losses reached SAR 24.61 million by the end of Q1 2025, representing 6.84% of capital.

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