Jamjoom Pharmaceuticals Factory Company (Jamjoom Pharma) logged net profits amounting to SAR 209.92 million in the first half (H1) of 2024, marking an annual plunge of 22.99% from SAR 170.67 million.

The revenues hit SAR 731.20 million in H1-24, higher by 22.01% year-on-year (YoY) than SAR 599.25 million, according to the interim financial results.

Earnings per share (EPS) climbed to SAR 3 as of 30 June 2024 from SAR 2.44 in the year-ago period.

Income Results for Q2-24

In the second quarter (Q2) of 2024, the company recorded 23.97% YoY higher net profits at SAR 106.95 million, compared to SAR 86.27 million.

Revenues climbed by 15.86% to SAR 345.74 million in April-June 2024 from SAR 298.40 million a year earlier.

Quarter-on-quarter (QoQ), the profits in Q2-24 increased by 3.86% from SAR 102.97 million in Q1-24, while the revenues declined by 10.30% from SAR 385.46 million.

Dividends

The board members greenlighted interim cash dividends worth SAR 112 million, representing 16% of the share capital, for H1-24.

The listed firm will pay a dividend of SAR 1.60 per share for 70 million eligible shares on 25 August 2024.

Tarek Hosni, CEO of Jamjoom Pharma, commented: “Revenue growth reached 22.0% YoY in 1H 2024, driven by outperformance across our portfolio and key markets.”

“The Gastrointestinal, Cardiovascular, and General Medicine segments showed robust momentum, whilst Ophthalmology and Dermatology segments continued their double-digit growth. Our new Anti-diabetic drugs are receiving excellent consumer and physician feedback,” Hosni added.

The CEO mentioned: “Our rapid growth has been complemented by significant profitability, with the EBITDA margin expanding to 34.70% and a net profit margin of 28.70%, reflecting our commitment to cost efficiency and operational excellence.”

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