LAZURDE-

Jewelry maker Lazurde’s net income fell 62% y-o-y to SAR 11.7 mn in FY 2024, weighed down by lower gross profit and higher expected credit loss, as well as one-off expenses, according to a disclosure to Tadawul. Meanwhile, revenue rose 13.1% y-o-y to SAR 2.1 bn in the same period, driven by growth in retail sales and store expansions in both the Saudi and Egyptian markets.

ALSO- The company’s board decided to forgo dividends distribution for FY 2024 to support its financial position and maintain its solvency margin for future expansion, it said in a separate disclosure.

JAHEZ INTERNATIONAL-

Jahez International’s net income increased 49.9% y-o-y to an all-time high of SAR 188 mn in FY 2024, fueled by targeted promotion strategies, moderate marketing spending, and lower delivery costs, it said in a disclosure to Tadawul. Meanwhile, revenue grew 24.3% y-o-y to SAR 2.2 bn, boosted by rising total orders, higher take rate and average order value, and healthier returns from advertising and online payments.

ARABIAN SHIELD-

ArabianShield CooperativeIns. Company’s net income increased 6.1% y-o-y to SAR 71 mn in FY 2024, with the company reporting a 14.5x y-o-y growth in returns from its ins. services and higher net investment income, according to a disclosure to Tadawul. Meanwhile, ins. revenues were up 38.9% y-o-y at SAR 1.6 bn in the same period, driven by growth across the board, reads the disclosure.

SAUDI COMPANY FOR HARDWARE-

The SaudiCompany for Hardware (Saco) saw its net loss shrink 79.6% y-o-y to SAR 14.1 mn in FY 2024, helped by lower administrative expenses, better commercial terms, and improved operational efficiency, according to a disclosure to Tadawul. Meanwhile, revenue grew 6.8% y-o-y to SAR 993.6 mn, boosted by product portfolio expansion and growing logistics service revenue.

ALSO- Saco’s board recommended forgoing dividends distribution for FY 2024 to strengthen the company’s financial position and support its turnover plans, it said in a separate disclosure.

FOURTH MILLING-

FourthMilling’s net income grew 19.7% y-o-y to SAR 170.9 mn in FY 2024, driven by improved efficiency rates, according to a disclosure to Tadawul. Revenue increased 12.7% y-o-y to SAR 629 mn during the same period, buoyed by rising sales of flour, feed, and bran, in addition to an increase in overall sales (16%) on the back of wider geographic presence.

ALSO- The company’s board greenlit the distribution of SAR 59.4 mn in dividends for 2H 2024 at SAR 0.11 per share, it said in a separate disclosure. The eligibility date is March 24, with distribution due in the following 15 working days.

SUMOU REAL ESTATE –

Sumou RealEstate saw its net income grow 3.5% y-o-y to SAR 106.6 mn in FY 2024, buoyed by revenue growth and higher return on investments, according to a disclosure to Tadawul. Revenue rose 56.9% y-o-y to SAR 429.5 mn in the same period, backed by completion rates of real estate projects, as well as contracting activity.

ALSO- The company’s board approved distributing SAR 25 mn in dividends for 2H 2024 at SAR 0.50 per share, it said in a separate disclosure. The distribution date is set for 1 May.

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