MULKIA 2024 Profits Rise 16% to SAR 24 Million

Mulkia Investment Co. announced on Wednesday that its net profit rose by 16% to SAR 24 million by the end of 2024, compared to SAR 21 million in 2023, following the announcement today of the preliminary financial results for the duration ending Dec. 31, 2024.

The operating profit increased by 14% to SAR 26 million by the end of 2024, compared to SAR 23 million in 2023.

The equity (after excluding non-controlling interests) in the current year increased by 9% to SAR 97 million riyals, compared to SAR 89 million riyals in 2023.

The profits per share in the current year amounted to SAR 3.73, compared to SAR 3.2 in 2023.

The Company stated in a statement today on “Tadawul” that the reason for the increase in operating revenues is due to SAR 46.2 million in 2024, compared to SAR 43.8 million in 2023, an increase estimated at SAR 2.4 million, as follows:

– Increase in realised and unrealised gain from investments by fair value through profit and loss during 2024, compared to 2023 by amount SAR 5.5 million;

– Increase in Dividends income and Special commission income during 2024, compared to 2023 by amount SAR 0.3 million; and

– Despite the decrease in Income from investment services and asset management during 2024, compared to 2023 by amount SAR 3.4 million as a result of some non-periodic transactions on an annual basis, represented by performance incentive revenues for funds and unit trading fees during 2023 by approximately SAR 5.9 million, the Company achieved an increase in fund management fee revenues during 2024 compared to 2023 by an amount of SAR 2.9 million.