The shares of Al -Babtain Energy and Communications Company listed and traded in the Saudi market, “Tadawul”, increased by 8.19% during Sunday’s trading, to trade at 45.55 riyals per share, after achieving it increased by 2024 profits.
452.12 thousand shares of Al -Babtain Energy and Communications Company were traded, with a trading value of 20.42 million riyals.
The highest price for the share at that time was at 45.75 riyals per share, while the lowest price per share was at 44.20 riyals per share.
The increase in the share of Al -Babtain Energy and Communications Company came after announcing its financial results for the year 2024, as the company recorded an increase in the net profit by 87.77% compared to the previous year, as a result of the improvement of sales and the increase in operational profits.
The net profit increased from 141.5 million riyals to 265.7 million riyals in 2024.
The company explained that the reason behind this rise in net profits is due to the increase in sales and the improvement of operational profits, in addition to achieving capital profits from the sale of investment real estate worth 47.7 million riyals.
Sales/revenues also witnessed a growth of 13%, reaching about 2.81 billion riyals in 2024 compared to 2.49 billion riyals in 2023.
