AMWAJ INTERNATIONAL Profits Drop 60% to SAR 6.3 Million by End-2024

Amwaj International Co. announced on Thursday that its net profit declined by 60% to SAR 6.3 million by the end of 2024, compared to SAR 16 million in 2023. This came after the announcement today of the preliminary financial results for the duration ending December 31, 2024.

The operational profit decreased by 41% to SAR 20 million by the end of 2024, compared to SAR 34 million in 2023.

The shareholders’ equity (excluding non-controlling interests) for the current year increased by 0.6% to SAR 130 million, compared to SAR 129 million in 2023.

The profits per share for the current year amounted to SAR 1.06, compared to SAR 2.66 in 2023.

The Company stated in a statement today on Tadawul that the reason for the decrease in revenues for the current year 2024, compared to the previous year 2023 is due to a 0.55% decrease in sales.