The Saudi Tadawul Holding Group announced today, Sunday, that it achieved 140.4 million riyals ($37.39 million) in net profits in the third quarter, compared to 102.3 million riyals ($27.2 million) for the same period a year ago, an increase of 37%.
Earnings per share reached 1.17 riyals ($0.31) in the third quarter of 2024, compared to 0.85 riyals ($0.23) in the same quarter of the previous year, representing an increase of 37.2%.
The company’s shares fell 1.05% to 2.6 riyals ($0.69) at the time of writing this report.
In its statement on the Saudi Stock Exchange website, the company attributed this increase to an increase in operating revenues by 20% on an annual basis, to reach 359.1 million riyals ($95.6 million) in the third quarter of 2024, compared to 297.7 million riyals ($79.25 million).
She indicated that the increase in operating revenues during the third quarter of 2024 is due to an increase in revenues from services not related to trading by 2.8%.
On the other hand, operating expenses increased by more than 17%, and reached 235.5 million riyals ($62.7 million) in the third quarter of 2024.
9 months profit
Net profit for the first nine months amounted to 505.7 million riyals ($134.63 million), compared to 298.3 million riyals ($79.41 million) a year ago, an increase of about 70%.
Earnings per share reached 4.21 riyals ($1.12) in the first nine months of 2024, compared to 2.49 riyals ($0.66) in the same period of the previous year, representing an increase of 69.5%.
