Tam Development’s Net Profit Falls 26% to SAR 30 Million in 2024

Tam Development Company reported a 26% decline in net profit, reaching SAR 30 million by the end of 2024, compared to SAR 41 million in 2023. The announcement came following the release of the company’s preliminary financial results for the period ending December 31, 2024.

Operating profit dropped 24% to SAR 34 million, down from SAR 44 million in 2023. Despite the profit decline, shareholders’ equity (excluding non-controlling interests) increased 24% to SAR 137 million in 2024, compared to SAR 110 million in the previous year.

Earnings per share (EPS) fell to SAR 9.15 in 2024, compared to SAR 12.33 in 2023.