The shares of the Jamjoom Factory Company for Medicines included and traded in the Saudi market “Tadawul” by 1.99% during trading today, to trade at the price of 164.40 riyals per share, after increasing its annual profits to 356.52 million riyals.
The trading on the share of the Jamjoj Pharmaceutical Factory Company at that time came through 97.59 thousand shares with a value of trading 16.11 million riyals.
The highest price for the share was at that time at 168 riyals per share, while the lowest price per share was at 161.60 riyals per share.
The price of the share of the Jamjoom Pharmaceutical Factory Company came after announcing a 22% increase in the net profit for 2024, according to the initial financial results.
The company explained that the net profit after zakat and tax amounted to about 356.52 million riyals, compared to 292.4 million riyals in 2023.
She added that the net profit for the current year increased by 21.9% compared to the previous year, mainly due to the strong growth in revenue, and effective strategies to enhance profitability and control operational costs. The profits from the joint project in Algeria also contributed to the growth of the profits, which compensated for the impact of the decrease in the value of the Egyptian pound.
The company’s sales increased by 19.77% to 1.32 billion riyals, compared to 1.10 billion riyals in 2023. This growth was driven by successful strategic initiatives to expand sales in major markets and treatment fields, in addition to launching new products and improving industrial capabilities thanks to modern facilities in Egypt and Saudi Arabia .
The company also maintained its strong financial situation, as the cash balance reached 261.7 million riyals at the end of December 2024, recording a decrease of 8% compared to December 31, 2023, which reflects the company’s ability to maintain the growth of its business and generate liquidity with the continued distribution of profits to shareholders.
