Riyadh – Mubasher: Al Baha Investment and Development Company generated a net profit worth SAR 8.37 million in 2024, marking a 69.48% increase from SAR 4.94 million in 2023.
The revenue grew by 12.68% year-on-year (YoY) to SAR 18.09 million during the January-December 2024 period compared with SAR 16.06 million, according to the financial results.
Meanwhile, the basic and diluted earnings per share (EPS) reached SAR 0.0038 in 2024, up from SAR 0.0016 in 2023.
It is worth noting that during the first nine months (9M) of 2024, Al Baha Investment recorded a net profit of SAR 2.66 million which signalled a 9.75% surge from SAR 2.42 million in 9M-23.
The revenue also soared by 15.21% YoY to SAR 13.47 million in 9M-24 from SAR 11.69 million.
In September 2024, Al Baha Investment submitted a request to the Capital Market Authority (CMA) to reduce its capital from SAR 297 million to SAR 218.29 million, aiming to extinguish the accumulated losses registered as of 30 June last year.
