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View All NewsSaudi Arabia – Maharah Human Resources Q1 revenue and profits rise
26 June 2019
Saudi Arabia-based recruitment firm Maharah Human Resources reported revenue rose by 13.9% for the first quarter ended 31 March 2019.
The company launched its IPO earlier this year and became the first Middle Eastern staffing firm to become publicly-listed.
| (SAR millions) | Q1 2019 | Q1 2018 | Change | Q1 2019 (USD millions) |
| Revenue | 372.8 | 327.3 | 13.9% | 99.4 |
| Total Profit (Gross Profit) | 80.9 | 62.7 | 29.0% | 21.5 |
| Operating Profit | 54.5 | 43.0 | 26.9% | 14.5 |
| Net Profit after Tax and Zakat (obligatory charitable donation) | 54.0 | 48.0 | 12.4% | 14.4 |
The company said that the revenue increase was led by growth in the corporate sector which increased by 16.2% as well as the individual sector, which grew by 8.3%.
In trading on Monday, Maharah Human Resources shares closed at SAR 90.70 (USD 24.19), up 8.88% on the day. Based on its current share price the company has a market value of SAR 3.27 billion (USD 874.0 million).