Riyadh – Mubasher: Alujain Corporation turned profitable at SAR 20.26 million in the first half (H1) of 2024, compared to net losses worth SAR 17.74 million in H1-23.

The revenues amounted to SAR 858.96 million in H1-24, an annual growth of 7.51% from SAR 798.93 million, according to the initial financial results.

Earnings per share (EPS) hit SAR 0.29 as of 30 June 2024, versus a loss per share of SAR 0.36 in H1-23.

Financials for Q2-24

In the second quarter (Q2) of 2024, Alujain Corporation recorded 365.92% higher net profits at SAR 14.63 million, compared to SAR 3.14 million in Q2-23.

Revenues fell by 5.25% year-on-year (YoY) to SAR 380.75 million in the three-month period that ended on 30 June 2024 from SAR 401.87 million.

Quarter-on-quarter (QoQ), the net profits in Q2-24 hiked by 160.32% from SAR 5.62 million in Q1-24, while the revenues shrank by 20.38% from SAR 478.21 million.