| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 2,105.04 | 2,257.50 | 7.2 % |
| Gross Income | 889.20 | 860.80 | (3.2 %) |
| Operating Income | 263.20 | 231.60 | (12.0 %) |
| Net Income | 244.34 | 232.90 | (4.7 %) |
| Average Shares | 130.00 | 130.00 | - |
| EPS (Riyals) | 1.88 | 1.79 | (4.7 %) |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 2,214.25 | 2,257.50 | 2.0 % |
| Gross Income | 865.06 | 860.80 | (0.5 %) |
| Operating Income | 185.00 | 231.60 | 25.2 % |
| Net Income | 170.52 | 232.90 | 36.6 % |
| Average Shares | 130.00 | 130.00 | - |
| EPS (Riyals) | 1.31 | 1.79 | 36.6 % |
Nahdi recorded a gross profit of SAR 860.8 million in the first quarter of 2024 compared to SAR 889.2 million for the same period of the previous year. This reflected a gross margin of 38.1% of revenue. Additionally, operating profit declined to SAR 231.6 million in Q1 2024, from SAR 263.2 million a year earlier.
On a quarterly basis, net earnings jumped 36.6% from SAR 170.5 million in Q4 2023, on higher gross sales to SAR 2.25 billion in Q1 2024, from SAR 2.21 billion in Q4 2023, on continued investments to support sales growth.
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