{"id":95167,"date":"2025-03-11T00:00:00","date_gmt":"2025-03-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/11\/nahdi-medicals-net-income-down-8-1-in-2024-riyadh-cables-up-57-6\/"},"modified":"2025-03-11T00:00:00","modified_gmt":"2025-03-11T00:00:00","slug":"nahdi-medicals-net-income-down-8-1-in-2024-riyadh-cables-up-57-6","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/11\/nahdi-medicals-net-income-down-8-1-in-2024-riyadh-cables-up-57-6\/","title":{"rendered":"Nahdi Medical\u2019s net income down 8.1% in 2024, Riyadh Cables up 57.6%"},"content":{"rendered":"

\n

NAHDI MEDICAL-<\/p>\n

Nahdi<\/a><\/strong><\/a><\/strong>Medical<\/a><\/strong>\u2019s net income fell 8.1% y-o-y to SAR 820.7 mn in FY 2024<\/strong>, weighed down by a rise in operating expenses on the back of continued investment in new sale points, sales digitization, and geographic expansion, according to a disclosure to<\/a>Tadawul<\/a>.<\/p>\n

MEANWHILE-<\/strong> Revenues were up 8.4% y-o-y at SAR 9.4 bn during the period, \u201csupported by the growth of Nahdi\u2019s pharmacy business, increased prescription flow, expanded ins. partnerships, and a broader product assortment,\u201d CFO Mohammed Alkhubani said in an earnings release (pdf)<\/a>.<\/p>\n

On a 4Q basis: <\/strong>Nahdi\u2019s net income decreased 7.4% y-o-y to SAR 157.9 mn in 4Q 2024, as rising operating expenses offset an increase in gross income. Meanwhile, the company\u2019s revenue inched up 6.7% to SAR 2.4 bn over the same quarter on the back of growth in its retail, healthcare and UAE businesses.<\/p>\n

Looking ahead: <\/strong>The company will focus on investing in digital platforms and the UAE market as it looks to strengthen its retail presence in 2025, added Alkhubani. Nahdi currently has 1.2k pharmacies in the Kingdom and 25 in the UAE.<\/p>\n

ALSO- <\/strong>Nahdi will distribute SAR 390 mn in dividends for 2H 2024 at SAR 3 per share, it said in a separate disclosure<\/a>. Distribution is scheduled for 25 March.<\/p>\n

\n

RIYADH CABLES GROUP-<\/p>\n

Riyadh Cables\u2019 net income grew 57.6% y-o-y to SAR 816.9 mn in 2024<\/strong>, it said in a disclosure to Tadawu<\/a> l. The company reported 15.1% y-o-y revenue growth during the year to SAR 9 bn.<\/p>\n

ALSO- <\/strong>The company will distribute SAR 299.4 mn in dividends for 2H 2024 at SAR 2 per share, it said in a separate disclosure<\/a>. The eligibility and dividend distribution dates will be announced later, it added.<\/p>\n

\n

ARABIA INS. COOPERATIVE-<\/p>\n

Arabi<\/a><\/strong>a Ins. Cooperative Company<\/a><\/strong> reported a 50.1% decline in net income to<\/strong> SAR 30.1 mn<\/strong> in FY 2024<\/strong>, due to lower net ins. results and a drop in other income streams, according to a disclosure to Tadawul<\/a>. The company\u2019s ins. revenues fell by 17.2% to SAR 694.7 mn, pulled down by declines in the motor and medical ins. segments that were partially capped by growth in the engineering segment.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nahdi will distribute SAR 390 mn in dividends for 2H 2024<\/p>\n","protected":false},"author":1,"featured_media":95168,"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":[285,10,2981,1052],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam-ksa","tag-nahdi-medical","tag-riyadh-cables","wpautop","entry"],"acf":{"mongo_id":"8c9de4d5-9a6a-4372-bdcb-8c22271322eb","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/821.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Nahdi Medical\u2019s net income down 8.1% in 2024, Riyadh Cables up 57.6%","related_issue":[95149],"teaser":"Nahdi will distribute SAR 390 mn in dividends for 2H 2024","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.e1af2783-f515-4d42-89f2-a3642fcab097.mp3"},"yoast_head":"\nNahdi Medical\u2019s net income down 8.1% in 2024, Riyadh Cables up 57.6% - 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