Morabaha Marina Financing Company logged net profits amounting to SAR 14.65 million in the first nine months (9M) of 2024, marking a 59.78% plunge from SAR 36.44 million in 9M-23.

Revenues stood at SAR 137.33 million in 9M-24, up 9.36% year-on-year (YoY) from SAR 125.57 million, according to the initial financial results.

The earnings per share (EPS) fell to SAR 0.29 as of 30 September 2024 from AR 0.63 a year earlier.

Financials for Q3-24

In the third quarter (Q3) of 2024, Morabaha Marina Financing posted 23.17% lower net profits at SAR 6.10 million, compared to SAR 7.94 million a year earlier.

The company registered a 14.89% growth in revenue to SAR 48.29 million during July-September 2024, versus SAR 42.03 million in Q3-23.

Quarterly, the Q3-24 profits increased by 28.45% from the SAR 4.75 million registered in April-June 2024, while the revenues rose by 9.16% from SAR 44.24 million.

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