“Pharmaceutical” turns into profitability with 31.84 million riyals in 2024

The Saudi Pharmaceutical Industries Company turned to profitability in 2024 with 31.84 million riyals, compared to 40.05 million riyals.
According to the company’s statement on Saudi Arabia’s circulation, it is mainly due to the following factors:
• The total profit increased by 19.04 %, equivalent to 133.9 million riyals, to 837 million riyals.
This improvement came as a result of stopping contracts that did not meet the limits of the internal profit margin, which reflects the improvement of operational efficiency. As a result of the increase in the margin of the total profit of 2024 to 49.76%, compared to 42.47% in 2023.
• The decrease in sales, marketing, public and administrative expenses by 2.22%, equivalent to 13.71 million riyals, to reach 604.4 million riyals in 2024, compared to 618 million riyals in 2023, as a result of adopting the policy of reducing expenses and improving employment efficiency.
• The increase in operational profit to 137.46 million riyals, compared to 52.15 million riyals last year, supported by the strong performance of the total profit and the low operational expenses thanks to the cost management strategies and the enhancement of operational efficiency.