Al Muneef’s Profits Rise to SAR 20 Million by End of 2024, Up 16%

Al Muneef for Trade, Industry, Agriculture, and Contracting Company reported a 16% increase in net profit to SAR 20 million by the end of 2024, compared to SAR 17 million in 2023. The announcement followed the release of the company’s preliminary financial results for the period ending December 31, 2024.

Operating profit reached SAR 23 million in 2024, up from SAR 20 million in 2023, reflecting a 15% increase.

Shareholders’ equity, excluding non-controlling interests, rose to SAR 86 million in 2024, compared to SAR 75 million in 2023, marking a 14% growth.

Earnings per share (EPS) stood at SAR 0.54 in 2024, up from SAR 0.46 in 2023.

In a statement on Tadawul, the company attributed the decline in sales to the decrease in prices of key products purchased during 2024.