SAL’s net profit hikes 100% YoY in Q1-24

SAL’s net profit hikes 100% YoY in Q1-24

Riyadh – Mubasher: SAL Saudi Logistics Services Company recorded a 99.764 % year-on-year (YoY) surge in net profit to SAR 208.446 million in the first quarter (Q1) of 2024 from SAR 104.34 million. Revenues surged 33.10 % YoY to SAR 452.52 million in Q1-24 from SAR 339.97 million, according to the interim financial results. The earnings per share (EPS) amounted to SAR 2.61 in the three-month period that ended on 31 March 2024, up from SAR 1.30 in the corresponding period a year earlier. Quarter-on-quarter (QoQ), the company’s net profit grew 15.43 % in Q1-24 from SAR 180.58 million in Q4-23, while the revenues rose 10.20% from SAR 410.62 million. In 2023, SAL logged a 40.65% YoY hike in net profit to SAR 509.71 million from SAR 362.41 million.

SAL’s net profit hikes 100% YoY in Q1-24