Bawan profit drops 22% to SAR 106 million in 2024

Saudi industrial group Bawan reported a 22% drop in net profit to SAR 106 million ($28.3 million) in 2024, down from SAR 136 million a year earlier, according to its annual financial results for the period ended Dec. 31.

Operating profit fell 12% to SAR 155 million, compared to SAR 177 million in 2023.

Total shareholders’ equity, after deducting minority interest, edged up 0.96% to SAR 929 million from SAR 920 million a year earlier.

Earnings per share stood at SAR 1.77, down from SAR 2.27 in 2023.