Lamasat profit jumps 40% to SAR 31 million in 2024

Lamasat Co. reported a 40% rise in net profit to SAR 31 million ($8.3 million) in 2024, up from SAR 22 million a year earlier, according to its preliminary financial results for the period ended Dec. 31.

Operating profit increased 45% to SAR 30 million, compared to SAR 21 million in 2023.

Shareholders’ equity, excluding non-controlling interests, grew 21% to SAR 130 million, up from SAR 107 million in the previous year.

Earnings per share rose to SAR 0.42, compared to SAR 0.30 in 2023.