Armah Sports 2024 Profit Surges 4,625% to SAR 38 Million

Saudi Arabia’s Armah Sports Co. reported a sharp rise in net profit to SAR 38 million for 2024, up from SAR 0.8 million a year earlier, marking a 4,625% increase, according to preliminary financial results for the period ending Dec. 31, 2024.

Operating profit jumped 345% to SAR 54 million from SAR 12 million in 2023, while shareholders’ equity, excluding non-controlling interests, rose 26% to SAR 478 million from SAR 378 million.

Earnings per share climbed to SAR 1.15, up from SAR 0.03 in the previous year.

In a statement to Tadawul, the company reported record revenue growth of SAR 177.5 million in 2024, a 122% increase from 2023, citing higher subscription and personal training revenues. Subscription revenue surged 116%, driven by a significant rise in subscriber numbers and new club openings, while personal training revenue soared 155% amid growing demand for high-quality services.

Armah Sports said the results reflect the success of its expansion strategy, its strong market position, and its commitment to delivering premium fitness experiences.