The annual profits of Bin Dawood Company increased and registered 280.25 million riyals in 2024.

Bino Dawood Company disclosed to Saudi Stock Exchange (Tadawul) on Tuesday that the company's net profits increased slightly by 1.88% to reach 280.25 million riyals during the past year, compared to a net profit of 275.07 million riyals achieved by Bino Dawood in 2023.

At the same time, earnings per share remained at 0.24 riyals during the fiscal year 2024, knowing that Bino Dawood's share achieved the same earnings in 2023, which also amounted to 0.24 riyals.

According to the statement issued by the Saudi company today, Bino Dawood clarified that the reason for the annual net profit increase by 1.9% is due to the rise in gross profit margins, which was partially offset by an increase in operating expenses due to investment in human resources and the expansion of the company's operations.

With the conclusion of the Saudi stock market trading today, Bino Dawood's share (TADAWUL: 4161) recorded an increase of about 0.45%, closing the session at the level of 6.63 riyals.