Almunajem Foods Co. reported a net profit of SAR 114 million for Q1 2024, a leap of 39.2% from SAR 81.9 million in the prior-year period.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 901.96 | 902.95 | 0.1 % |
| Gross Income | 155.71 | 195.76 | 25.7 % |
| Operating Income | 81.73 | 116.83 | 42.9 % |
| Net Income | 81.88 | 114.00 | 39.2 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 1.36 | 1.90 | 39.2 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 829.18 | 902.95 | 8.9 % |
| Gross Income | 156.47 | 195.76 | 25.1 % |
| Operating Income | 86.50 | 116.83 | 35.1 % |
| Net Income | 81.62 | 114.00 | 39.7 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 1.36 | 1.90 | 39.7 % |
The first-quarter net profit was backed by a 0.1% year-on-year (YoY) revenue increase, due to the growth in sales volumes of all segments, except for white and red meat, buoyed by improved commercial conditions.
Gross profits increased 25.7% YoY on improved gross profit margins of some segments such as white and red meat, dairy products, vegetables and fruits.
On the other hand, operating expenses (OpEx) jumped YoY in Q1 2024 on higher marketing expenses during the holy month of Ramadan.
Compared to the previous quarter, net earnings jumped by 39.7% from SAR 81.62 million, thanks to an 8.9% increase quarter-on-quarter (QoQ) in revenue on higher sales growth. Gross profit also rose by 25.1% QoQ to SAR 195.8 million.
Shareholders’ equity, no minority interest, rose to SAR 1.04 billion as of March 31, 2024, from SAR 982.4 million a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}