SAIC Profits Jump 98% to SAR 295 Million by End-2024

Saudi Advanced Industries Co. (SAIC) announced on Wednesday that its net profit increased to SAR 295 million by the end of 2024, compared to SAR 149 million in 2023. This came after the announcement today of the preliminary financial results for the duration ending December 31, 2024.

The operational profit increased by 94% to SAR 316 million by the end of 2024, compared to SAR 162 million in 2023.

The shareholders’ equity (excluding non-controlling interests) increased by 24% to SAR 1.23 billion in the current year, compared to SAR 995 million in 2023.

The profits per share for the current year reached SAR 5, compared to SAR 2.52 in 2023.