Foods Gate 2024 Profits Rise 4% to SAR 8.7 Million

Foods Gate Trading Co. announced on Monday that its net profit increased by 4% to SAR 8.7 million by the end of 2024, compared to SAR 8.4 million in 2023, following the announcement today of the annual financial results ending on Dec. 31, 2024.

The operational profit increased by 3% to SAR 9.8 million by the end of 2024, compared to SAR 9.5 million in 2023.

The total equity (after excluding non-controlling interests) in the current year increased by 15% to SAR 53 million, compared to SAR 46 million in the previous year.

The profits per share in the current year amounted to SAR 4.14, compared to SAR 4 in the previous year.

The Company stated in a statement today on “Tadawul” that revenues increased to SAR 63.88 million, compared to SAR 59.37 million in the previous year, an increase of SAR 4.51 million and a growth rate of 7.6%. This increase is mainly due to the opening of two new branches in Jeddah, which contributed to the increase in sales.