“Shaker’s profits” increased to 81.58 million riyals in 2024

Al -Hassan Ghazi Ibrahim Shaker’s profits in 2024 increased by 24.7% to 81.586 million riyals, compared to 65.427 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, Shaker achieved its highest net profit since 2015, at a value of 81.59 million riyals in the fiscal year 2024 AD, an increase of 24.70% compared to a net profit of 65.43 million riyals in the fiscal year 2023 AD.
The revenues witnessed an increase of 14.53% on an annual basis to reach 1,415.91 million riyals in the fiscal year 2024 AD.
The total profit witnessed a noticeable increase of 9.05% on an annual basis to reach an amount of 346.52 million riyals in the fiscal year 2024 m, compared to a total profit of 317.76 million riyals in the fiscal year 2023 AD. This increase came as a result of the height of revenues.
The operational profits witnessed a decrease of 7.83% on an annual basis to reach 82.17 million riyals in the fiscal year 2024 AD, compared to 89.15 million riyals in the fiscal year 2023 m. This reflects strategic investments in employment and high losses in the value of the city’s commercial and other city receivables.
The net profit witnessed an increase of 24.70% on an annual basis, from 65.43 million riyals in the fiscal year 2023 m to 81.59 million riyals in the fiscal year 2024 m. This increase came as a result of high revenues, total profit, low financing costs and zakat expenses, and an increase in the profit share of the LG -Shaker Common Factory.