Nofoth Profits Increase by 23% to SAR 27.1 Million in H1 2024

Nofoth Food Products Company reported a 23% rise in net profit for the first half of 2024, reaching SAR 27.1 million compared to SAR 22 million in the same period last year. This follows the company’s announcement of its preliminary financial results for the six months ending June 30, 2024.

The company’s revenues increased by 15.2% to SAR 179.3 million in the first half, up from SAR 155.6 million in the corresponding period of the previous year. Total equity, after excluding non-controlling interests, grew by 37.7% to SAR 117.9 million, compared to SAR 85.6 million in the same period last year.

Earnings per share for the current period reached SAR 0.57, up from SAR 0.46 in the same period last year.