Saudi Paper Manufacturing First Quarter 2024 Earnings: EPS: ر.س1.08 (vs ر.س0.23 in 1Q 2023)

Saudi Paper Manufacturing (TADAWUL:2300) First Quarter 2024 Results

Key Financial Results

• Revenue: ر.س229.2m (up 5.5% from 1Q 2023).
• Net income: ر.س36.2m (up 324% from 1Q 2023).
• Profit margin: 16% (up from 3.9% in 1Q 2023). The increase in margin was primarily driven by lower expenses.
• EPS: ر.س1.08 (up from ر.س0.23 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Saudi Paper Manufacturing Earnings Insights

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Forestry industry in Asia.

Performance of the market in Saudi Arabia.

The company's shares are down 8.5% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for Saudi Paper Manufacturing (1 doesn't sit too well with us!) that you need to be mindful of.

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