Latest news with #MultiBusinessGroup
Argaam
2 days ago
- Business
- Argaam
Multi Business renews SAR 10M Shariah-compliant facilities with SNB
Multi Business Group Co. renewed SAR 10 million in Shariah-compliant credit facilities with Saudi National Bank (SNB). According to a statement on Tadawul, the company obtained a 12-month financing on Aug. 18, providing a promissory note worth SAR 11 million as collateral. The general facilities were renewed for the purpose of issuing initial and final letters of guarantee and advance payment guarantees for current and future projects. There are no related parties involved, the company noted.
Zawya
05-02-2025
- Business
- Zawya
Saudi: Multi Business Group records 19% higher net profit in 2024
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. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
