Saudi: Balady Poultry posts 79% YoY higher profits in H1-24

Faisal Al Nasser

Sales leapt by 30.49% YoY to SAR 449.63 million in H1-24 from SAR 344.55 million, according to the estimated interim financial results

Staff Writer, Mubasher

July 25, 2024

PHOTO

Balady Poultry Company logged a 78.61% year-on-year (YoY) surge in net profit to SAR 71.93 million during the first half (H1) of 2024 from SAR 40.27 million.

Sales leapt by 30.49% YoY to SAR 449.63 million in H1-24 from SAR 344.55 million, according to the estimated interim financial results.

The earnings per share (EPS) reached SAR 10.95 between 1 January and 30 June 2024, up from SAR 6.12.

In February 2024, Balady Poultry signed a $7 million contract with Famsun Company to build a feed production plant.

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