Saudi: eXtra sees 37% higher net profits in H1-24

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Riyadh – United Electronics Company (eXtra) recorded 11.15% year-on-year (YoY) higher net profits at SAR 200.40 million in the first half (H1) of 2024, an annual rise from SAR 146.12 million.

The company’s revenues reached SAR 3.49 billion in H1-24, up 9.76% from SAR 3.18 billion in January-June 2023, according to the income statements.

Meanwhile, the earnings per share (EPS) grew to SAR 2.51 as of 30 June 2024 from SAR 1.83 in the year-ago period.

Financials for Q2-24

In the second quarter (Q2) of 2024, eXtra logged net profits valued at SAR 106.50 million, an annual increase of 72.69% from SAR 61.67 million.

Revenues hiked by 9.67% to SAR 1.91 billion in Q2-24 from SAR 1.79 billion a year earlier.

Quarterly, the Q2-24 net profits climbed by 13.46% from SAR 93.86 million in Q1-24, while the revenues increased by 21.35% from SAR 1.58 billion.