Financial Results : Development Works profit up 82% to SAR 1.4M in Q1 2025

Development Works profit up 82% to SAR 1.4M in Q1 2025

15/05/2025 Argaam Exclusive

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Development Works Food Co. reported a net profit of SAR 1.4 million for the first quarter of 2025, a rise of 82% from SAR 781,000 in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 23.88 27.25 14.1 %
Gross Income 1.79 3.39 89.8 %
Operating Income 1.28 1.95 53.1 %
Net Income 0.78 1.42 81.7 %
Average Shares 3.00 3.00 -
Earnings Per Share before unusual items (Riyals) 0.26 0.47 81.7 %
EPS (Riyals) 0.26 0.47 81.7 %

Revenue rose 14.1% year-on-year (YoY) to SAR 27.25 million, supported by the full inclusion of Ramadan and the launch of London Strawberry.

 

Development Works also cited an increase in other income and a decline in financing costs.

 

On a sequential basis, Development Works shifted from a loss of SAR 1.37 million.

 

Shareholders’ equity, after minority interest, reached SAR 23.69 million as of March 31, 2025, compared to SAR 21.61 million in the same period last year.

 

Accumulated losses amounted to SAR 6.83 million in the three-month period, 23% of the capital.

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