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Newly-listed perfume maker Almajed Oud saw its net income drop 22% year-on-year to SAR 55.5 mn in 2Q 2024, according to a disclosure to Tadawul. Revenues rose 5.7% y-o-y to SAR 257 mn, driven by the uptick in sales during Hajj season and the expansion of its store network.
On a 1H basis: The company’s bottom line grew 18.3% y-o-y to SAR 119.5 mn in 1H 2024, and its revenues increased 21% to SAR 513.1 mn, with both increases also coming on the back of the Hajj season.
