Wealth profits decrease 24.5% to 12.49 million riyals in 2024

The profits of the Human Wealth Company (wealth) decreased by 24.5% to 12.490 million riyals, compared to 16.538 million riyals in 2023.
According to the company’s statement on the circulation of Saudi Arabia, the net profit decrease is mainly due to the costs related to the company’s inclusion process, in addition to increasing investment in promotional activities to enhance the market presence.
The expansion of the creation of supportive departments contributed to enhancing operational processes and meeting the requirements of growth and governance.
Moreover, the conversion of some projects under implementation into inexpensive assets led to the high consumption and fire fees, and the rise in zakat as a result of the increase in capital, which was reflected in the financial results of the company.
She noted the stability of the total profit margin compared to the previous year, driven by the strategy of expanding contracts with new authorities and customers, which reflects the company’s efficiency in managing its operational operations and achieving a balance between revenues and costs.