Nice One Beauty Digital Marketing Company (4193) Q2 2024 earnings summary

Executive summary

• Report covers six months ended 30 June 2024, with unaudited interim consolidated results for Nice One Beauty Digital Marketing Company, formerly Product Sea Trading Company.

• Company operates in retail of perfumes, cosmetics, soap, and incense, with subsidiaries in Egypt and UAE.

• Name changed and legal status converted to joint stock company during the period.

Financial highlights

• Revenue for six months rose to SR 458.8 million, up from SR 345.2 million year-over-year.

• Net profit for the period reached SR 40.1 million, compared to SR 21.2 million for the same period last year.

• Gross profit increased to SR 137.0 million from SR 106.1 million year-over-year.

• Earnings per share (EPS) for six months was SR 1.18, up from SR 0.62 year-over-year.

• Cash and cash equivalents at period end were SR 77.0 million, up from SR 69.7 million at year-end 2023.

Outlook and guidance

• Interim results may not be indicative of full year performance.

• Subsequent to period end, shareholders resolved to increase share capital to 115.5 million shares; legal formalities pending.