Al -Jazeera Capall has kept its recommendation for Saudi Arabia’s arrow and tools “Saco” neutral, and set the price of the target arrow at 33 riyals.
This came with more clarity on the improvement in the improvement in operational expenses and income from other sources.
Al -Jazeera Capal said: “We are awaiting the issuance of more clarifications about this improvement to find out its source and is it once, for example, or is it the result of a re -tab for the items of 9 months 2024.”
And the Saudi company for the number and tools “Saco” achieved a net profit in the fourth quarter of 2024, at a value of 3.4 million riyals, compared to a loss of 24.3 million riyals in the same quarter of the previous year.
The results were better than expectations by registering a loss of 13.7 million riyals, and most of the difference came from expectations as a result of improving the margin of the total profit from the decrease in operational expenses than expected.
The company’s revenues from the same quarter of the previous year increased by 16.8%to 279 million riyals compared to expectations of 253 million Saudi riyals (higher by 10.3%), and the margin of total profit for Saco expanded during the fourth quarter of 2024 by 628 basis points to 15.7%, as a result of an improvement in commercial contracts and operational efficiency.
The operating profit during the fourth quarter of 2024 amounted to 27.3 million riyals, compared to a loss of 15.4 million Saudi riyals in the fourth quarter 2023.
The operating expenses decreased by 56.6% from the same quarter of the previous year, by 56.2% from the previous quarter to 16.4 million riyals.
