Qomel Posts 17.75% Revenue Growth in 2024 on Strong Product Demand

Qomel Co. reported a 17.75% rise in revenue for 2024, reaching SAR 124.2 million, driven by higher demand for registered pharmaceutical products, an expanded product portfolio, and optimized pricing strategies, the company said in a bourse filing.

Net profit surged 24.79% to SAR 22 million, up SAR 4.36 million from 2023, as sales of high-margin products and newly launched pharmaceuticals boosted profitability.

The company also improved its gross profit margin despite increased operating expenses tied to expansion efforts.

Qomel’s external auditor issued an unmodified opinion on the financial results.