Saudi: Taiba Investments achieves $53.33mln profits in H1-24

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Riyadh – Taiba Investments Company logged net profits amounting to SAR 200.08 million in the first half (H1) of 2024, an annual surge of 123.22% from SAR 89.63 million.

The Saudi firm posted revenues valued at SAR 709.47 million in H1-24, higher by 193.08% year-on-year (YoY) than SAR 242.07 million, according to the interim financial results.

Earnings per share (EPS) increased to SAR 0.77 as of 30 June 2024 from SAR 0.56 in H1-23.

Income Results for Q2-24

In the second quarter (Q2) of 2024, Taiba Investments recorded a 225.03% YoY leap in net profit to SAR 89.58 million, compared to SAR 27.56 million.

Revenues hiked by 187.82% to SAR 377.40 million in April-June 2024 from SAR 131.12 million in Q2-23.

Quarter-on-quarter (QoQ), the profits in Q2-24 fell by 18.93% from SAR 110.50 million in Q1-24, while the revenues climbed by 13.65% from SAR 332.07 million.