Arabian Mills 2024 Profits Rise 7% to SAR 214 Million

Arabian Mills for Food Products Co. announced on Monday that its net profit increased to SAR 214 million by the end of 2024, compared to SAR 200 million in 2023, following the announcement today of the preliminary financial results for the duration ending Dec. 31, 2024.

The operational profit increased by 23% to SAR 394 million by the end of 2024, compared to SAR 322 million the year before last.

Shareholders’ equity (excluding non-controlling interests) increased by 26% to SAR 1.03 billion in the current year, compared to SAR 822 million in 2023.

The profits per share for the current year amounted to SAR 4.16, compared to SAR 3.9 in 2023.

The Company announced in a statement today on Tadawul that revenues increased by 12.98% to SAR 973.94 million in the current year (2024), an increase of SAR 111.86 million, compared to SAR 862.08 million in the previous year (2023). This growth is primarily due to the following:

1. Feed sales witnessed a strong growth of 39.75%, driven by the company’s entry into Poultry Feed production and the enhancement of Feed Production in line with the Company’s strategy;

2. Bran segment recorded strong growth of 17.91%, driven by increased demand to keep pace with the Feed Market demand, in addition to improved sales execution efficiency; and

3. Flour sales grew by 4.02%, supported by a 3.19% growth in business revenues and strong incentives to promote small-pack products in the Modern markets segment, which impacted market sales growth by 22.42%.