Riyadh – Mubasher: The net profits of Morabaha Marina Financing Company fell by 64.26% to SAR 8.55 million in the first half (H1) of 2024 from SAR 28.50 million, according to the financial results.
The Saudi firm achieved revenues valued at SAR 89.04 million in H1-24, up year-on-year (YoY) from SAR 83.53 million.
Earnings per share (EPS) retreated to SAR 0.16 as of 30 June 2024 from SAR 0.56 in the year-ago period.
Financial Results for Q2-24
In the second quarter (Q2) of 2024, the net profits amounted to SAR 4.75 million, lower by 64.26% than SAR 13.29 million a year earlier.
Revenues increased by 10.08% to SAR 44.24 million in April-June 2024 from SAR 40.18 million in Q2-23.
Quarter-on-quarter (QoQ), the profits in Q2-24 hiked by 24.96% from SAR 3.80 million in Q1-24, while the revenues declined by 1.24% from SAR 44.79 million.
