{"id":88596,"date":"2024-08-11T00:00:00","date_gmt":"2024-08-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/11\/still-rolling-in\/"},"modified":"2024-08-11T00:00:00","modified_gmt":"2024-08-11T00:00:00","slug":"still-rolling-in","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/11\/still-rolling-in\/","title":{"rendered":"Still rolling in\u2026"},"content":{"rendered":"

We have another handful of earnings this morning<\/strong>, including MBC Group, Yaqeen Capital, Jarir, and Fakeeh Group. <\/p>\n

MBC GROUP-<\/p>\n

MBC Group reported 66.5% y-o-y growth in net income to SAR 116.5 mn in 2Q 2024,<\/strong> despite an 11.6% downtick in revenues to SAR 964 mn, according to an earnings release (pdf)<\/a>. On a 1H basis, the company\u2019s net income grew 360% y-o-y to SAR 237.8 mn, while revenues were up 10% to SAR 2.2 bn. <\/p>\n

Shahid took the spotlight:<\/strong> The streaming platform saw 16% y-o-y growth in revenues in 2Q 2024 to SAR 259 mn, and 40.8% growth in 1H 2024 to SAR 557.3 mn, on the back of a boost in performance during Ramadan and continued momentum. The improved performance increased Shahid\u2019s share in the group\u2019s total revenue to 25% during the first half, up from 20% a year earlier, Aleqtisiah<\/a> reported. Shahid also cut costs 85% y-o-y to SAR 24 mn in 1H 2024. <\/p>\n

\n

JARIR MARKETING-<\/p>\n

Jarir Marketing\u2019s (Jarir Bookstore) net income grew 9.8% <\/strong>y-o-y<\/strong> to SAR 171.1 mn in 2Q<\/strong> 2024<\/strong>, on the back of a 8.8% uptick in sales to SAR 2.7 bn that was partially offset by a ramp up in costs, the bookstore chain said in a disclosure to Tadawul<\/a>. <\/p>\n

On a 1H basis:<\/strong> The company logged a 3.3% y-o-y dip in its bottom line to SAR 390.4 mn in 1H 2024 on the back of higher costs, the disclosure said. Meanwhile, revenues saw a 2.8% uptick at SAR 5.3 bn due to a boost in smartphone, video game, and computer section sales. <\/p>\n

Dividends: <\/strong>Jarir will distribute a SAR 180 mn dividend at SAR 0.15 per share, according to separate disclosure to Tadawul<\/a>. The distribution date is set for Wednesday, 21 August.<\/p>\n

\n

FAKEEH CARE GROUP-<\/p>\n

Fakeeh Care Group saw its adjusted net income rise 67% y-o-y to SAR 42.9 mn in 2Q <\/strong>2024<\/strong>, and revenues were up 20% during the period at SAR 654 mn, it said in an earnings release (pdf<\/a>)<\/a>. Fakeeh Care\u2019s net income was up 39.4% y-o-y at SAR 103.6 mn in 1H 2024, while revenues were up 24.1% y-o-y to SAR 1.3 bn. Healthcare accounted for 91% of the group\u2019s total revenue.<\/p>\n

REMEMBER- Fakeeh\u2019s IPO was the <\/strong>largest on Tadawul<\/a><\/strong> in 1H 2024: <\/strong>The healthcare provider\u2019s 21.5% stake offering saw strong demand from institutional investors with a 119x oversubscription rate. The institutional portion of the offering drew orders worth a combined SAR 341 bn (USD 91 bn).<\/p>\n

\n

YAQEEN CAPITAL- <\/p>\n

Yaqeen Capital\u2019s net income fell 76.3% y-o-y to SAR 8.9 mn in 1H 2024<\/strong>, on the back of a non-recurring transaction relating to the sale of a company-owned building in 2023, the company said in a disclosure to Tadawul<\/a>. Meanwhile, revenues grew 2.7% during the period to SAR 40 mn. <\/p>\n","protected":false},"excerpt":{"rendered":"

MBC Group | Jarir Marketing | Fakeeh Care Group | Yaqeen Capital | Seera Group<\/p>\n","protected":false},"author":1,"featured_media":88597,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2607],"tags":[285,10,1874,769,201],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam-ksa","tag-fakeeh-care-group","tag-jarir-marketing","tag-mbc","wpautop","entry"],"acf":{"mongo_id":"1f018235-432b-41b4-a1a3-551ccb471b14","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/9\/tax-abacus-1600px.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Earnings reports keep rolling in","related_issue":[88587],"teaser":"MBC Group | Jarir Marketing | Fakeeh Care Group | Yaqeen Capital | Seera Group","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.1810ba01-a0f2-4557-9145-1eeef06239b7.mp3"},"yoast_head":"\nStill rolling in\u2026 - 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