ADES Holding Company posted a 105.89% year-on-year (YoY) leap in net profit to SAR 402.97 million during the first half (H1) of 2024, compared to SAR 195.71 million.

The revenues amounted to SAR 3.05 billion in H1-24, marking an annual leap of 54.34% from SAR 1.98 billion, according to the interim financial results.

Earnings per share (EPS) dropped to SAR 0.36 as of 30 June 2024 from SAR 0.37 in the year-ago period.

Income Results for Q2-24

During the second quarter (Q2) of 2024, the net profits stood at SAR 202.12 million, up 90.13% from SAR 106.30 million in Q2-23.

In the three-month period that ended on 30 June 2024, the revenues climbed by 48.66% YoY to SAR 1.52 billion from SAR 1.02 billion.

Quarter-on-quarter (QoQ), the profits in Q2-24 went up by 0.63% from SAR 200.84 million in Q1-24, while the revenues inched down by 0.44% from SAR 1.53 billion.

Dividends

The board members approved cash dividends worth SAR 237.49 million for H1-24. Meanwhile, the group will pay a dividend of SAR 0.21 per share for 1.09 billion eligible shares.

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