SIIG’s net profits hike 88% in 9M-24 - Mubasher Info

SIIG
2250 0.11% 17.78 0.02

Riyadh – Mubasher: Saudi Industrial Investment Group (SIIG) registered net profits valued at SAR 190 million in the first nine months (9M) of 2024, an annual leap of 88.11% from SAR 101 million.

SIIG’s share of profit of the joint ventures increased in the current quarter, mainly because of a rise in the quantities sold, in addition to a slight decrease in the feedstock and costs, according to the initial financial results.

The earnings per share (EPS) hiked to SAR 0.25 as of 30 September 2024 from SAR 0.13 in 9M-23.

Financials for Q3-24

In the third quarter (Q3) of 2024, SIIG posted a 55.85% year-on-year (YoY) drop in net profit to SAR 98 million, compared to SAR 222 million.

Quarterly, the Q3-24 net profits surged by 53.12% from the SAR 64 million generated in Q2-24.

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