Riyadh - Mubasher: The net profits of Saudi Advanced Industries Company (SAIC) hit SAR 5.25 million in the first quarter (Q1) of 2025, reflecting an annual plunge of 95.17% from SAR 108.72 million.
Furthermore, the revenues shrank by 87.52% to SAR 15.20 million in the first three months (3M) of 2025 from SAR 121.89 million in Q1-24, according to the financial results.
The earnings per share (EPS) dropped to SAR 0.09 in Q1-25 from SAR 1.84 in the same period a year earlier.
On a quarterly basis, the net profits in Q1-25 fell by 46.86% from SAR 9.88 million in Q4-24, while the revenues retreated by 20.99% from SAR 19.24 million.
As of 31 December 2024, SAIC logged 98.29% higher net profits at SAR 295.06 million, compared to SAR 148.80 million in 2023.
The revenues hiked by 90.09% year-on-year (YoY) to SAR 342.44 million in 2024 from SAR 180.15 million.
The EPS jumped to SAR 5 last year from SAR 2.52 in 2023.
In the first nine months (9M) of 2024, the net profits of SAIC surged by 156.84% YoY to SAR 285.53 million from SAR 111.17 million.
