Alfakhera’s Net Profit Drops 21% to SAR 15 Million in 2024

Alfakhera for Men’s Tailoring Company reported a 21% decline in net profit, reaching SAR 15 million in 2024, compared to SAR 19 million in 2023, following the release of its annual financial results for the period ending December 31, 2024.

– Operational profit fell 2% to SAR 19.6 million, down from SAR 20 million last year.

– Total shareholders’ equity (excluding non-controlling interests) increased 52% to SAR 85 million, compared to SAR 56 million in the previous year.

– Earnings per share (EPS) stood at SAR 0.48 in 2024, compared to SAR 0.62 in 2023.

The company attributed its revenue increase to changes in its sales mix, branch portfolio restructuring, repositioning in strategic areas, and enhanced marketing efficiency leading to new customer acquisitions.