Riyadh – Mubasher: Saudi Tadawul Group Holding Company witnessed 86.42% year-on-year (YoY) higher net profits at SAR 365.40 million in the first half (H1) of 2024, compared to SAR 196 million.

The revenues hit SAR 741.10 million in H1-24, marking an annual rise of 9.76% from SAR 493 million, according to the interim financial results.

Earnings per share (EPS) increased to SAR 3.04 as of 30 June 2024 from SAR 1.63 in the year-ago period.

Financials for Q2-24

In the second quarter (Q2) of 2024, the group registered net profits amounting to SAR 163.80 million, higher by 55.70% than SAR 105.20 million.

Additionally, the revenues hiked by 31.55% YoY to SAR 353.50 million in Q2-24 from SAR 268.70 million.

Quarterly, the Q2-24 net profits retreated by 18.70% from SAR 201.50 million in Q1-24, while the revenues dropped by 8.79% from SAR 387.60 million.

Khalid Al Hussan, CEO of Saudi Tadawul Group, commented: “The successful completion of the strategic acquisition of DME Holdings Limited exemplifies our strategic diversification and supports our strategic move towards leveraging the Middle East’s geographic proximity to both key commodity production hubs and end-markets.”

“These efforts and accomplishments reinforce our commitment to enhancing Saudi Arabia's influence in the global financial sector, ensuring sustainable value for our stakeholders, and seizing future growth opportunities,” Al Hussan continued.