The quarterly profits of “first mills” increased to 66.4 million riyals

The profits of the first mills company in the fourth quarter of 2024 increased by 15.5% to 66.4 million riyals, compared to 57.5 million riyals in the same quarter of the year 2023.
According to the company’s statement on Saudi Arabia’s circulation, this is mainly due to the following:
1) Strong growth of sales in all sectors of different products.
2) Refreshing the costs of raw materials for feed products with improvement in the efficiency of controlling and managing the company’s costs in line with growth in sales.
The net profit increased during the current quarter by 8.3% compared to the previous quarter to 66.4 million riyals, an increase of 5.1 million riyals compared to 61.3 million riyals, and this is mainly due to the following:
1) Increase in revenue by 7.6 million riyals as a result of the increase in feed sales, in addition to improving the mixing of product diversity and pricing management.
2) The continued improvement in the efficiency of controlling and managing the company’s costs, such as distribution, sale and manufacturing expenses during the period.
The net profit increased during the current period by 13.9% by 30.7 million riyals compared to the same period in the previous year to reach 250.9 million riyals compared to 220.2 million riyals, and this is mainly due to the following:
1) The increase in revenues by 84.6 million riyals, which came mainly as a result of the increase in feed sales and the increase in sales of flour varieties, in addition to the improvement of the mixing mix of products and prices with the addition of new products.
2) Continue growth and progress in the category of small packages with higher profit margins.
3) Improved the efficiency of controlling and managing the company’s costs in line with growth in sales.
4) Development in the management of criticism by achieving additional revenues through the financing benefits and the deposits of murabaha compatible with the provisions of Islamic Sharia.