IHR reports 67% jump in H1 2024 net profit to SAR 2.8M

01/09/2024 Argaam Exclusive

International Human Resources Co. (IHR) reported a net profit of SAR 2.8 million in H1 2024, an increase of 67%, compared to SAR 1.7 million in the year-earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 47.82 76.49 60.0 %
Gross Income 8.79 11.28 28.3 %
Operating Income 2.37 3.92 65.6 %
Net Income 1.65 2.76 66.6 %
Average Shares 50.00 50.00 -
EPS (Halala) 3.31 5.51 66.6 %

H1 2024 revenue increased by 60% year-on-year (YoY) on the company's expansions in the workforce support and employment, in addition to new operating, consulting, and training contracts. Further, the number of workers rose by 37% YoY.

 

The six-month gross profit increased by 28% compared to the same period of the previous year, due to an increase in operating gross profit on stronger demand in the company’s six business divisions.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 47.82 76.49 60.0 %
Gross Income 8.79 11.28 28.3 %
Operating Income 2.37 3.92 65.6 %
Net Income 1.65 2.76 66.6 %
Average Shares 50.00 50.00 -
EPS (Halala) 3.31 5.51 66.6 %

Total shareholders’ equity, no minority interest, reached SAR 45.11 million by June 30, 2024, compared to SAR 41.45 million a year earlier.

 

Development of Interim Financials

Period

Revenue ( SAR mln)

Net Profit ( SAR mln)

EPS (SAR/Share)

H1 2021

41.41

3.00

0.06

H2 2021

36.58

(0.54)

(0.09)

H1 2022

39.20

3.72

0.07

H2 2022

38.03

0.58

0.01

H1 2023

47.82

1.65

0.03

H2 2023

64.27

1.19

0.02

H1 2024

76.48

2.75

0.06

View More Financial Results

 

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Share Price

International Human Resources Co.
5.21
(0.29) (5.27 %)

International Human Resources Co. (ALDAWLIAH)

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Financial Ratios
Current
Market Cap (M Riyal) 260.50
Enterprise Value (EV) (M) 257.87
Shares Outstanding ((M)) 50.00
Book Value (BV) ( Riyal) 0.87
Par Value ( Halala) 50.00
Adjusted P/E (Last12) More than 100
Price/book 6.01
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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 41.41 - 8.90 - 3.19 -
H2 2021 36.58 - 6.77 - 0.02 -
H1 2022 39.20 (5.3 %) 8.99 1.1 % 2.40 (24.8 %)
H2 2022 38.04 4.0 % 7.24 6.9 % 4.34 19616.4 %
H1 2023 47.82 22.0 % 8.79 (2.3 %) 2.37 (1.2 %)
H2 2023 64.27 69.0 % 9.68 33.7 % 2.24 (48.4 %)
H1 2024 76.49 60.0 % 11.28 28.3 % 3.92 65.6 %


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 3.00 - 6.01 - 3.00 0.06
H2 2021 (0.54) - (1.09) - (0.54) (0.01)
H1 2022 3.72 23.8 % 7.43 - 3.72 0.07
H2 2022 0.58 207.5 % 1.17 (1.51) 2.09 0.04
H1 2023 1.65 (55.5 %) 3.31 - 1.65 0.03
H2 2023 1.18 102.0 % 2.36 - 1.18 0.02
H1 2024 2.76 66.6 % 5.51 - 2.76 0.06

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 20.09 % 5.12 % 3.15 %
H1 2022 20.81 % 4.11 % 4.19 %
H2 2022 21.02 % 9.62 % 7.52 %
H1 2023 18.67 % 8.60 % 4.36 %
H2 2023 16.48 % 5.19 % 2.53 %
H1 2024 14.89 % 5.70 % 2.80 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 - - - -
H2 2020 - - - -
H1 2021 50.00 - - 0.38
H2 2021 50.00 4.92 4.92 0.38
H1 2022 50.00 6.35 6.35 0.45
H2 2022 50.00 8.60 11.61 0.80
H1 2023 50.00 4.48 7.49 0.83
H2 2023 50.00 5.67 5.67 0.87
H1 2024 50.00 7.87 7.87 0.90

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 32.60 24.15 3.52
H1 2023 66.33 39.66 3.58
H2 2023 69.49 69.49 4.54
H1 2024 53.35 53.35 4.65

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