Riyadh – Mubasher: The net profits of SAL Saudi Logistics Services Company hiked by 57.80% to SAR 519.40 million in the first nine months (9M) of 2024 from SAR 329.13 million in 9M-23.
SAL posted revenues amounting to SAR 1.22 billion in 9M-24, an annual growth of 17.24% from SAR 1.04 billion, according to the initial financial results.
The earnings per share (EPS) jumped to SAR 6.49 as of 30 September 2024 from SAR 4.11 a year earlier.
Financials for Q3-24
In the third quarter (Q3) of 2024, SAL recorded 34.09% year-on-year (YoY) higher net profits at SAR 155.50 million, compared to SAR 115.96 million.
The company generated revenues valued at SAR 367.25 million in the July-September 2024 period, up 0.40% YoY from SAR 365.76 million.
Quarterly, the Q3-24 net profits inched up by 0.03% from SAR 155.45 million in Q2-24, while the revenues dropped by 9.42% from SAR 405.48 million.
Dividends
The board members of SAL approved cash dividends worth SAR 116 million, representing 14.50% of the capital, for Q3-24.
The group will pay out a dividend of SAR 1.45 per share for 80 million eligible shares. The payment date will be within 15 working days from the eligibility date of 10 November 2024.
