Riyadh – Mubasher: Jamjoom Pharmaceuticals Factory Company (Jamjoom Pharma) achieved net profits valued at SAR 304.92 million in the first nine months (9M) of 2024, marking a 22.90% year-on-year (YoY) leap from SAR 247.92 million.
The revenues hit SAR 1.05 billion in the January-September 2024 period, higher by 18.71% than SAR 891.86 million a year earlier, according to the interim financial statements.
Earnings per share (EPS) climbed to SAR 4.36 in 9M-24 from SAR 3.54 in 9M-23.
Financials for Q3-24
During the third quarter (Q3) of 2024, the Saudi company witnessed a 22.96% jump in net profit to SAR 94.99 million, compared to SAR 77.25 million a year earlier.
Jamjoom Pharma also registered an 11.95% rise in revenue to SAR 327.58 million during the three-month period that ended on 30 September 2024, compared to SAR 292.61 million in Q3-23.
Quarterly, the Q3-24 net profits dropped by 11.18% from the SAR 106.95 million reported in Q2-24, while the revenues declined by 5.25% from SAR 345.74 million.
Tarek Hosni, CEO of Jamjoom Pharma, commented: “On a quarterly basis we maintain positive momentum as we record yet another quarter with double-digit revenue growth over last year.”
“Regionally, we continue to drive robust performance across key markets – Gulf, Iraq, Egypt and North Africa. Our strong operating leverage has driven substantial profitability, with the EBITDA margin improving to 34.50% and a net profit margin of 28.80%,” Hosni added.
