Horizon Food Profits Surge 70% during H1 2024 to SAR 4.4 Million

Horizon Food’s net profit increased to 4.4 million riyals during the first half of 2024 compared to 2.6 million riyals in the same half of last year by 70%, following the announcement today of the estimated financial results for the period ending June 30, 2024 (6 months).

Total equity (after excluding non-controlling interests) amounted to 107 million riyals in the current period compared to 102.3 million riyals in the same period of the previous year, an increase of 4.3%.

Earnings per share reached 0.55 riyals in the current period compared to 0.33 in the same period of last year.

According to the company, the net increase of 70% is due to the increase in sales compared to the last year and the decrease in operating costs and administrative expenses.