Infst announced its financial results for the year ending December 31, 2024, as the company’s results for the fourth quarter showed a net loss, a unified loss due to the shareholders of the parent company of 828 thousand dollars compared to a net profit return to the shareholders of the parent company of $ 2.404 million for the same quarter of 2023.
Accordingly, the profitability of the basic arrow for the fourth quarter of 2024 decreased to a loss of 0.27 American cents compared to the profitability of the stock of 0.81 cents for the same period in 2023. This is mainly due to the losses caused by the contracting sector within the group.
Another comprehensive loss for the fourth quarter reached 358 thousand dollars compared to nothing for the same period last year. The net operational loss was 851 thousand dollars in the fourth quarter of 2024 compared to a net income of $ 2.629 million for the fourth quarter of 2023. The unified operating income decreased to $ 1.294 million compared to an income of $ 4.974 million.
While the group’s operational expenses decreased by 9% to $ 2.145 million in the fourth quarter of 2024 compared to $ 2.345 million for the same period in 2023.
The financial results of the Innovst company for the year ending in 2024 a net of a unified loss returned to the shareholders of the parent company of 8.524 million dollars, compared to a net income of $ 4,634 million for the same period last year. 2023.
The other comprehensive loss for this year was 358 thousand dollars compared to zero last year. The net unified operational income also decreased to a loss of 8.167 million dollars compared to a net income of $ 3.980 million for the same period in 2023. This is due, as it was mentioned to the losses achieved by Tamcoon Contracting Company, one of the subsidiary companies, and the unified operating income decreased to reach A loss of 134 thousand dollars compared to income of 12.390 million dollars for the same period last year.
With regard to the main public budget indicators, the property rights of the parents’ shareholders reached 136.099 million dollars at the end of 2024, compared to 148,547 million dollars at the end of 2023, a decrease of 8% and during the same period, the balance of total assembled assets recorded a slight decrease of 7% to reach To 227.427 million dollars, compared to 245.562 million dollars at the end of 2023.
In terms of liquidity, the percentage of cash and banking balances reached 5% of the total assembled assets, compared to 7% last year. The cash balance and the balances of banks reached 10.658 million dollars, compared to 17.960 million dollars at the end of 2023, a decrease of 41%.
