International Human Resources Co. announces its Annual Financial results for the period ending on 2024-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 192,258,806 | 112,087,213 | 71.53 | ||
| Gross Profit (Loss) | 30,849,885 | 17,958,907 | 71.78 | ||
| Operational Profit (Loss) | 10,728,467 | 4,206,212 | 155.06 | ||
| Net profit (Loss) | 8,302,790 | 2,534,161 | 227.63 | ||
| Total Comprehensive Income | 9,189,530 | 3,273,122 | 180.76 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 49,419,188 | 41,479,658 | 19.14 | ||
| Profit (Loss) per Share | 0.17 | 0.05 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | 115,000 | 0.46 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The company's consolidated revenues for 2024 increased by SAR 80.2 million, a 71.5% increase compared to the same period of the previous year. This increase is mainly due to:
The company achieved a 71.5% increase in revenues compared to the previous year as a result of the company’s expansion in the manpower support sector, through increasing the number of workers for existing projects, as well as signing strategic contracts with new clients in the same sector. This resulted in a 142% increase in the number of workers compared to the same period of the previous year. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The company achieved a 228.74% increase in net income for the current year compared to the same period of the previous year. This increase is due to the following reasons:
The company's revenues increased by 71.5% compared to the same period of the previous year.
Gross profit for the current period increased by 71.78% compared to the same period of the previous year. This is due to the increase in gross profit in the company’s main sectors (the manpower support and employment services sector, the consulting services sector, and the training services sector), as a result of the increase in demand in these sectors. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | The Company's financial statements for the fiscal year ending December 31, 2023 were audited by another auditor, who expressed an unmodified opinion on those financial statements on Ramadan 18, 1445 AH (corresponding to March 28, 2024 AD). |
| Reclassification of Comparison Items | Some comparative figures have been reclassified to conform to the presentation of the consolidated financial statements for the current year. |
| Additional Information | The calculation of basic/diluted earnings per share is based on profit attributable to ordinary shareholders and the weighted average number of ordinary shares outstanding. Earnings per share as of December 31, 2024, were calculated based on the weighted average number of shares outstanding at the end of the period. There were no diluted shares during the period, and therefore diluted earnings per share do not differ from basic earnings per share. |
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