Saudi: SAL registers higher profits at $97.06mln in H1-24; dividends for Q2 unveiled

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Riyadh – SAL Saudi Logistics Services Company logged net profits amounting to SAR 363.89 million in the first half (H1) of 2024, marking an annual hike of 70.71% from SAR 213.16 million.

The revenues hit SAR 858.01 million in H1-24, higher by 26.30% year-on-year (YoY) than SAR 679.32 million, according to the interim financial results.

Earnings per share (EPS) climbed to SAR 4.55 as of 30 June 2024 from SAR 2.66 in the year-ago period.

Income Results for Q2-24

In the second quarter (Q2) of 2024, the company recorded 42.84% YoY higher net profits at SAR 155.45 million, compared to SAR 108.82 million.

Revenues grew by 19.48% to SAR 405.48 million in April-June 2024 from SAR 339.35 million in Q2-23.

Quarter-on-quarter (QoQ), the profits in Q2-24 fell by 25.42% from SAR 208.44 million in Q1-24, while the revenues declined by 10.39% from SAR 452.52 million.

Dividends

The company's board members greenlighted interim cash dividends worth SAR 116 million, representing 14.50% of the share capital, for Q2-24.

SAL will pay a dividend of SAR 1.45 per share for 80 million eligible shares. Meanwhile, the distribution date will be within 15 working days from the eligibility date that was set on 13 August.