Knowledge Tower Trading Company posted a 37.5% drop in net profit for the first half of 2024, recording SAR 3.2 million compared to SAR 5.1 million in the same period last year. The company announced its financial results for the six months ending September 30, 2024, earlier today.
Despite the profit decline, total equity excluding non-controlling interests rose 16.2% to SAR 22.9 million, up from SAR 19.7 million in the first half of the previous year. Earnings per share fell to SAR 0.18, compared to SAR 0.29 during the same period in 2023.
The company attributed the decrease in net profit to increased sales, marketing, and financing expenses incurred during the period.
