Financial Results : Wafrah profit declines 58% to SAR 4.5M in Q1 2025

Wafrah profit declines 58% to SAR 4.5M in Q1 2025

13/05/2025 Argaam Exclusive

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Wafrah for Industry and Development Co. reported a net profit of SAR 4.6 million for Q1 2025, falling 58% compared to SAR 10.6 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 54.12 57.49 6.2 %
Gross Income 21.98 16.48 (25.0 %)
Operating Income 9.69 4.74 (51.0 %)
Net Income 10.64 4.47 (58.0 %)
Average Shares 23.15 23.15 -
Earnings Per Share before unusual items (Riyal) 0.41 0.18 (55.8 %)
EPS (Riyal) 0.46 0.19 (58.0 %)

The annual profit decline was due to higher feedstock costs for the meat factory and a reduction in the profit margin of new meat products in a bid for their increased market penetration.

 

Additionally, selling prices of potato finger products decreased in Q1 2025, while the cost of raw potato purchases and fuel costs soared, compared to last year.

 

Sequentially, the company turned to profit from losses of SAR 13.54 million in Q4 2024, thanks to the 69% quarter-on-quarter hike in Q1 2025 sales besides lower selling and administrative expenses for the same period.

 

Shareholders’ equity, no minority interest, amounted to SAR 243.46 million as of March 31, 2025, inching up from SAR 243.10 million a year earlier.

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