Al-Rashid Industrial Reports 56% Increase in Net Profit to SAR 35 Million in 2024

Al-Rashid Industrial Company announced that its net profit reached SAR 35 million by the end of 2024, marking a 56% increase compared to SAR 22 million in 2023. This announcement follows the release of the company’s preliminary financial results for the period ending December 31, 2024.

Operating profit grew by 50%, rising to SAR 36 million in 2024 from SAR 24 million in 2023. Total shareholders’ equity, excluding non-controlling interests, increased by 23% to SAR 150 million in 2024, compared to SAR 122 million in 2023. Earnings per share (EPS) improved to SAR 4.36 in 2024, up from SAR 2.79 in 2023.

The company also reported total revenues of SAR 152.7 million for 2024, reflecting a 13.11% increase from SAR 135.0 million in 2023. This growth was primarily attributed to the diversification of products and entry into new markets, as well as enhanced operational efficiency.