Bawan net profit down 12% to SAR 52.3M in H1 2024; Q2 net profit at SAR 23.1M

Bawan net profit down 12% to SAR 52.3M in H1 2024; Q2 net profit at SAR 23.1M

04/08/2024 Argaam Exclusive

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Bawan Co.'s net profit was down by 12% year-on-year to SAR 52.3 million by the end of H1 2024, compared to SAR 59.6 million, according to a statement to Tadawul.



Financials (M)

Item 6m 2023 6m 2024 Change‬

The company's Q2 net profit fell by 7.6% YoY to SAR 23.12 million, from SAR 25.03 million in Q2 2023.

 

The profit decline was ascribed to a fall in net profit of the electrical industries segment, mainly due to the decrease in quantities sold. This is coupled with a drop in net income of the metal and wood industries segment.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬

Shareholders' equity, no minority interest, amounted to SAR 910.2 million, compared to SAR 884.05 million in prior-year period.

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