Thob Al Aseel Co. reported a net profit of SAR 40.1 million in Q1 2024, an increase of 44%, from SAR 27.8 million a year earlier.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 190.49 | 211.17 | 10.9 % |
| Gross Income | 66.28 | 80.42 | 21.3 % |
| Operating Income | 33.83 | 45.97 | 35.9 % |
| Net Income | 27.76 | 40.05 | 44.3 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.07 | 0.10 | 44.3 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 105.51 | 211.17 | 100.1 % |
| Gross Income | 46.79 | 80.42 | 71.9 % |
| Operating Income | 17.10 | 45.97 | 168.8 % |
| Net Income | 11.47 | 40.05 | 249.1 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.03 | 0.10 | 249.1 % |
This was attributed to a 10.86% sales growth in addition to a relative improvement in profit margin from sales of highly profitable items.
On a quarterly basis, net earnings more than tripled from SAR 11.47 million.
Shareholders’ equity, no minority interest, reached SAR 584.66 million by March 31, 2024, compared to SAR 570.42 million in the prior-year period.
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