Saudi: Cenomi Centers posts 20% higher profits in Q1-25
Arabian Centres Company (Cenomi Centers) logged net profit valued at SAR 222.70 million in the first quarter (Q1) of 2025, an annual surge of 19.98% from SAR 185.60 million.
The revenues edged up by 0.81% year-on-year (YoY) to SAR 590.60 million in Q1-25 from SAR 585.60 million, according to the financial results.
Earnings per share (EPS) stood at SAR 0.46 as of 31 March 2025, compared to SAR 0.38 a year earlier.
Quarterly, the Q1-25 net profits dropped by 37.54% from SAR 356.60 million in Q4-24, while the revenues increased by 1% from SAR 584.70 million.
Alison Rehill-Erguven, CEO, Cenomi Centers, said: ' In the first quarter, we achieved a steady 1% increase in revenue despite the termination of revenue from Mall of Dhahran earlier that quarter and an 11% increase in EBITDA YoY, reflecting the strength of our core operations and the success of our proactive asset enhancement strategy.'
The CEO added: 'As we look ahead, our focus remains on disciplined execution, innovation in retail experiences, and unlocking long-term value across the Kingdom's rapidly evolving retail landscape.'
In 2024, Cenomi Centers recorded 18.44% YoY lower net profits at SAR 1.22 billion, versus SAR 1.50 billion.
All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
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