SIIG Profits Surge 79% to SAR 201 Million by End-2024

Saudi Industrial Investment Group (SIIG) announced on Thursday that its net profit jumped 79% to SAR 201 million by the end of 2024, compared to SAR 112 million in 2023. This came after today’s announcement of the preliminary financial results for the duration ending December 31, 2024.

The operational profit decreased by 8% to SAR 115 million by the end of 2024, compared to SAR 125 million in 2023.

The shareholders’ equity (excluding non-controlling interests) for the current year decreased by 1.8% to SAR 9.8 billion, compared to SAR 10.02 billion in 2023.

The profits per share for the current year amounted to SAR 0.27, compared to SAR 0.15 in 2023.

The Company stated in a statement today on Tadawul that due to its adoption of the equity method when accounting for its investments in its jointly managed companies, financial items (sales/revenues and gross profit) are not included in the statement of profit or loss.