Al Hammadi 2024 Profit Rises 12% to SAR 339 Million

Saudi Arabia’s Al Hammadi Holding Co. reported a 12% rise in net profit to SAR 339 million for 2024, up from SAR 303 million in the previous year, according to preliminary financial results for the period ending Dec. 31, 2024.

Operating profit increased 7% to SAR 366 million from SAR 343 million in 2023, while shareholders’ equity, excluding non-controlling interests, rose 6% to SAR 1.96 billion from SAR 1.84 billion.

Earnings per share climbed to SAR 2.12 from SAR 1.90 a year earlier.

In a statement to Tadawul, the company said 2024 revenue fell 1.9% to SAR 1,153.88 million, down from SAR 1,176.76 million in 2023, citing lower sales from contracts with the Ministry of Health and a decline in pharmaceutical sales by its subsidiaries.