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Riyadh: Multi Business Group Company reported a net profit of SAR 20.55 million in 2024, signalling a 19.06% year-on-year (YoY) increase from SAR 17.26 million.
The revenue grew by 8.19% to SAR 135.04 million in January-December 2024 from SAR 124.82 million during the same period a year earlier, according to the company’s financial results.
The earnings per share (EPS) reached SAR 1.68 in 2024, up from SAR 1.53 in 2023.
Multi Business Group noted that the revenue growth in 2024 was driven by a 5% increase in building contracting revenue from office and sports club projects, alongside building materials sales of SAR 4 million compared to approximately SAR 100,000 in 2023.
It is worth mentioning that in December 2024, the company sealed a contract with Naif Arab University for Security Sciences to upgrade its AI centre building over a nine-month period.
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