Riyadh - Mubasher: Saudi Industrial Investment Group (SIIG) registered net profits of SAR 201 million in 2024, a 79.46% year-on-year (YoY) increase from SAR 112 million.
The earnings per share (EPS) rose to SAR 0.27 in 2024 from SAR 0.15 in 2023, according to the annual financial results.
It is worth highlighting that the company follows the equity method when accounting for its investments in the joint venture companies; therefore, the sales/revenue and gross profit items do not appear in the profit/loss statement.
Financials for Q4-24
In the fourth quarter (Q4) of 2024, SIIG’s net profits stood at SAR 11 million, maintaining the same level when compared to Q4-23.
On a quarterly basis, the Q4-24 net profit signalled a dropping of 88.77% from SAR 98 million in Q3-24.
It is worth mentioning that during the first nine months (9M) of 2024, SIIG recorded net profits of SAR 190 million, marking an 88.11% increase from SAR 101 million in the same period of 2023.
