Financial Results : Development Works Food posts 19% profit rise to SAR 2.5M in H1 2025; Q2 at SAR 1.1M

Development Works Food posts 19% profit rise to SAR 2.5M in H1 2025; Q2 at SAR 1.1M

04/08/2025 Argaam Exclusive

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Development Works Food Co. posted a net profit of SAR 2.5 million for the first half of 2025, up 19% from SAR 2.1 million in H1 2024.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 50.06 55.92 11.7 %
Gross Income 4.50 6.68 48.5 %
Operating Income 1.02 1.66 62.7 %
Net Income 2.11 2.51 18.7 %
Average Shares 3.00 3.00 -
Earnings Per Share before unusual items (Riyals) 0.70 0.84 18.7 %
EPS (Riyal) 0.70 0.84 18.7 %

This was driven by higher revenues year-on-year due to strong sales from the Juice Time brand.

 

In Q2 2025, the company’s bottom line dropped 23% to SAR 1.1 million, from SAR 1.42 million in Q2 2024. This was due to recording an additional provision for expected credit losses, paired with a decline in other income and an increase in general and administrative expenses.

 

Sequentially, net income plunged by 23.2% from SAR 1.42 million in Q1 2025.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 26.18 28.66 9.5 %
Gross Income 2.71 3.28 21.2 %
Operating Income 0.92 0.94 1.5 %
Net Income 1.42 1.09 (23.4 %)
Average Shares 3.00 3.00 -
Earnings Per Share before unusual items (Riyal) 0.47 0.36 (23.4 %)
EPS (Riyal) 0.47 0.36 (23.4 %)

Shareholders' equity (after minority interest) reached SAR 24.78 million by the end of H1 2025, up from SAR 23.35 million in the year-earlier period.

 

Accumulated losses amounted to SAR 5.7 million by the end of June 30, 2025, representing 19.13% of capital.

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