Riyadh – Mubasher: Almunajem Foods Company posted 27.54% year-on-year (YoY) higher net profits at SAR 177.80 million in the first half (H1) of 2024, compared to SAR 139.40 million.

Revenues hit SAR 1.72 billion in H1-24, up 3.27% from SAR 1.67 billion in H1-23, according to the estimated income results.

Earnings per share (EPS) grew to SAR 2.92 as of 30 June 2024 from SAR 2.32 in the year-ago period.

Financials for Q2-24

In the second quarter (Q2) of 2024, the company's net profits amounted to SAR 63.80 million, an annual increase of 10.76% from SAR 57.60 million.

The revenues enlarged by 6.97% to SAR 826.30 million in Q2-24 from SAR 772.40 million a year earlier.

Quarterly, the Q2-24 net profits dropped by 44.03% from SAR 114 million in Q1-24, while the revenues fell by 8.48% from SAR 902.90 million.