Almasane Alkobra Mining Co. (AMAK) reported a net profit of SAR 15.1 million in Q1 2024, a decline of 54% from SAR 32.9 million in the year-earlier period.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 143.03 | 134.50 | (6.0 %) |
| Gross Income | 48.72 | 35.01 | (28.1 %) |
| Operating Income | 37.26 | 19.42 | (47.9 %) |
| Net Income | 32.86 | 15.13 | (54.0 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.37 | 0.17 | (54.0 %) |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 114.75 | 134.50 | 17.2 % |
| Gross Income | 20.96 | 35.01 | 67.0 % |
| Operating Income | 6.08 | 19.42 | 219.2 % |
| Net Income | 5.94 | 15.13 | 154.7 % |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.07 | 0.17 | 154.7 % |
Revenues declined 6% year-on-year (YoY), or by SAR 9 million, due to a decrease in zinc prices and lower quantities of gold sold, despite an increase in copper sales.
The net profit was weighed down as gross profit fell 28% YoY, along with an increase in the cost of sales, higher general and administrative expenses (G&As) and lower other income. Meanwhile, Zakat expenses declined YoY.
On a quarterly basis, net earnings more than doubled from SAR 5.94 million, as revenues rose 17% quarter-on-quarter due to an increase in copper and gold prices, as well as higher sales of the two metals.
Shareholders’ equity, no minority interest, reached SAR 1.16 billion by March 31, 2024, compared to SAR 1.25 billion in the prior-year period.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}