Meyar posts 315% surge in 2024 net profit to SAR 3.9 mln

Meyar Holding Co. (Meyar) reported a 315% jump in net profit to SAR 3.9 million ($1.04 million) for 2024, up from SAR 951,000 a year earlier, according to its annual financial results released on Saturday.

Operating profit rose 17% to SAR 3.8 million in 2024 from SAR 3.2 million in 2023.

Total equity, excluding non-controlling interests, stood at SAR 32 million, up 10% from SAR 35 million in the previous year.

Earnings per share climbed to SAR 2.97 in 2024 from SAR 0.78 a year earlier.