Riyadh – Mubasher: The net profits of Savola Group went down by 1.04% year-on-year (YoY) to SAR 665.12 million in the first nine months (9M) of 2024 from SAR 672.13 million.
Revenues hit SAR 19.21 billion in the January-September 2024 period, lower by 5.13% YoY than SAR 20.25 billion, according to the initial financial results.
The earnings per share (EPS) retreated to SAR 0.71 in 9M-24 from SAR 0.74 a year earlier.
Financials for Q3-24
In the third quarter (Q3) of 2024, the net profits witnessed a 22.84% leap to SAR 181.02 million, compared to SAR 147.36 million a year earlier.
The group registered a 4.56% drop in revenue to SAR 6.06 billion during July-September 2024, compared to SAR 6.35 billion in Q3-23.
Quarterly, the Q3-24 net profits hiked by 33.70% from SAR 135.39 million in April-June 2024, while the revenues grew by 12.76% from SAR 5.37 billion.
Savola Group obtained the approval of the Capital Market Authority (CMA) for a SAR 6 billion capital hike after submitting the application file to boost its financial position and expand its portfolio.
