Financial Results : Horizon Food profit jumps 70% to SAR 4.4M in H1 2024

Horizon Food profit jumps 70% to SAR 4.4M in H1 2024

22/08/2024 Argaam Exclusive

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Horizon Food Co. posted a net profit of SAR 4.4 million in H1 2024, a 70% increase from SAR 2.6 million a year earlier, as revenue rose on higher sales.

The company also noted a decrease in operating costs and administrative expenses.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 26.33 30.13 14.4 %
Gross Income 7.88 9.40 19.3 %
Operating Income 2.67 4.50 68.4 %
Net Income 2.61 4.44 70.1 %
Average Shares 8.00 8.00 -
Earnings Per Share before unusual items (Riyal) 0.33 0.55 70.1 %
EPS (Riyal) 0.33 0.55 70.1 %

Shareholders’ equity, excluding minority interest, stood at SAR 106.79 million as of June 30, 2024, compared to SAR 95.66 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

22.11

3.62

1.17

H2 2021

31.64

6.55

0.82

H1 2022

35.70

4.68

0.59

H2 2022

30.95

4.21

0.53

H1 2023

26.33

2.61

0.33

H2 2023

28.78

6.64

0.83

H1 2024

30.12

4.44

0.55

 

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