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In the second quarter of 2024, Addis Holding’s profit increased 90% to 202.1 million riyals, compared with 106.3 million riyals in the same period last year.
The company attributed the increase in net profit this quarter compared with the same period last year to revenue growth and a decrease in interest expenses as a percentage of revenue, but this effect was partially diluted. Consumer spending increased after the platform operation in Saudi Arabia, Kuwait, Algeria and India.
The company attributed the increase in net profit this quarter compared with the same period last year to revenue growth and a decrease in interest expenses as a percentage of revenue, but this effect was partially diluted. Consumer spending increased after the platform operation in Saudi Arabia, Kuwait, Algeria and India.
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