Seera reports SAR 174 net profit in 9M-24 amid 36% higher revenue - Mubasher Info

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Riyadh – Mubasher: Seera Group Holding logged net profits amounting to SAR 174 million in the first nine months (9M) of 2024, which were 16.77% higher than SAR 149 million in 9M-23.

The earnings per share (EPS) went up to SAR 0.44 in 9M-24 from SAR 0.49 in 9M-23, according to the income statements.

Seera generated revenue of SAR 3.10 billion during the January-September 2024 period, signalling a 36.36% growth from SAR 2.27 billion on an annual basis.

Financial Results for Q3

During the third quarter (Q3) of 2024, Seera witnessed a 65.38% surge in net profit to SAR 43 million from SAR 26 million in Q3-23.

The revenue also increased by 24.21% year-on-year (YoY) to SAR 995 million during July-September 2024 compared with SAR 801 million.

On a quarterly basis, the net profits of Seera in Q3-24 were 38.57% lower than SAR 70 million in Q2-24 while the revenue decreased by 3.21% from SAR 1.02 billion.

It is worth noting that in the first half (H1) of 2024, the Saudi company Seera achieved net profits worth SAR 131 million and revenues of SAR 2.10 billion.

Source: Mubasher Source: {{details.article.source}}