Saudi Industrial Investment Group turns profitable at $24.53mln in H1-24

PHOTO

Riyadh – Saudi Industrial Investment Group (SIIG) achieved net profits valued at SAR 92 million in the first half (H1) of 2024, compared to net losses worth SAR 121 million in H1-23.

Earnings per share (EPS) hit SAR 0.12 as of 30 June 2024, versus a loss per share of SAR 0.16 in the year-ago period, according to the financial results.

Financials for Q2-24

In the second quarter (Q2) of 2024, the net profits reached SAR 64 million, down 46.66% from SAR 120 million during April-June 2023.

Quarter-on-quarter (QoQ), the net profits in Q2-24 jumped by 128.57% from SAR 28 million in Q1-24.

In July, SIIG disbursed SAR 377.40 million as cash dividends to 754.80 million eligible shares for H1-24.