Riyadh – Mubasher: Al Hammadi Holding witnessed 11.41% year-on-year (YoY) lower net profits at SAR 181.91 million in the first half (H1) of 2024, compared to SAR 163.27 million.

The revenues amounted to SAR 540.50 million in H1-24, an annual decline of 6.04% from SAR 575.26 million, according to the initial financial results.

Earnings per share (EPS) grew to SAR 1.14 as of 30 June 2024 from SAR 1.02 in the year-ago period.

Financials for Q2

In the second quarter (Q2) of 2024, the net profits totalled SAR 117.87 million, higher by 44% than SAR 81.85 million during the same period in 2023.

Revenues fell by 4.77% to SAR 263.46 million in the three-month period that ended on 30 June 2024 from SAR 276.66 million in Q2-23.

Quarter-on-quarter (QoQ), the net profits in Q2-24 hiked by 84.05% from SAR 64.04 million in Q1-24, while the revenues shrank by 4.90% from SAR 277.04 million.

Dividends for Q2-24

Al Hammadi Holding announced cash dividends amounting to SAR 56 million for Q2-24, which will be disbursed on 21 August 2024.

The company’s board members agreed, on 3 August, to distribute a dividend of SAR 0.35 per share for 160 million eligible shares.