Riyadh – Mubasher: Jamjoom Pharmaceuticals Factory Company (Jamjoom Pharma) posted 21.93% higher net profits at SAR 356.52 million in 2024, compared to SAR 292.40 million in 2023.
Revenues jumped by 19.77% year-on-year (YoY) to SAR 1.31 billion as of 31 December 2024 from SAR 1.10 billion, according to the financial results.
Meanwhile, the earnings per share (EPS) recorded SAR 5.10 last year, versus SAR 4.20 in 2023.
Cash Dividends
The board members proposed cash dividends valued at SAR 102 million, equivalent to 14.60% of the capital, for the second half (H2) of 2024.
Jamjoom Pharma will pay a dividend of SAR 1.46 per share for 70 million eligible shares.
Eligibility and payment dates for the H2-24 dividends will be 4 and 11 March 2025, respectively.
Tarek Hosni, CEO of Jamjoom Pharma, commented: “Our focus on operational efficiency contributed to a 33.20% EBITDA margin and a 27% net profit margin, demonstrating our ability to execute effectively while maintaining profitability.”
“We scaled up production at our Egypt facility, launched in 2023, and commissioned a new sterile products facility in Jeddah,” Hosni added.
He noted: “These capacity enhancements position us well to meet the increasing demand and support our near and medium-term growth plans. Across our three facilities, we produced 175.20 million units.”
As of 30 September 2024, the net profits of Jamjoom Pharma hiked by 22.90% YoY to SAR 304.92 million from SAR 247.92 million.
