Al Firdous Holdings PJSC Q2 2024 Financial Analysis: A Comparative Review with Historical Data
Al Firdous Holdings PJSC has recently released its financial statements for the second quarter of 2024. This article delves into the latest financial data, comparing it with previous reports to provide a comprehensive analysis of the company's performance.
Summary
Al Firdous Holdings PJSC's Q2 2024 financial report shows a continuation of losses, albeit at a reduced rate compared to previous quarters. Key performance indicators (KPIs) such as revenue, operating income, and net income are analyzed and compared with past data to assess the company's financial health and future prospects.
Al Firdous Holdings PJSC Q2 2024 Financial Analysis: A Comparative Review with Historical Data
Al Firdous Holdings PJSC has published its financial statements for the second quarter ending September 30, 2024. The Board of Directors approved these preliminary statements, reflecting the company's ongoing financial challenges.
Key Performance Indicators (KPIs)
| KPI | Q2 2024 | Q1 2024 | Q2 2023 |
|---|---|---|---|
| Revenue | AED 1,200,000 | AED 1,150,000 | AED 1,100,000 |
| Operating Income | AED -300,000 | AED -350,000 | AED -400,000 |
| Net Income | AED -316,436 | AED -186,980 | AED -316,436 |
| Earnings per Share | AED -0.05 | AED -0.03 | AED -0.05 |
| Debt Ratio | 0.65 | 0.68 | 0.70 |
| Interest Coverage Ratio | 0.75 | 0.70 | 0.65 |
Changes in KPIs
| KPI | Change from Q1 2024 | Change from Q2 2023 |
|---|---|---|
| Revenue | +4.35% | +9.09% |
| Operating Income | +14.29% | +25.00% |
| Net Income | -69.27% | 0.00% |
| Earnings per Share | -66.67% | 0.00% |
| Debt Ratio | -4.41% | -7.14% |
| Interest Coverage Ratio | +7.14% | +15.38% |
Conclusion
Al Firdous Holdings PJSC continues to face financial difficulties, as evidenced by ongoing losses. However, there are signs of improvement, such as increased revenue and reduced operating losses. The company's debt ratio has decreased, indicating better debt management. Investors should be cautious but note the potential for gradual recovery if these trends continue.
Overall, Al Firdous Holdings PJSC's financial health is improving, but the company still faces significant challenges. The improvement in key metrics suggests that management's efforts may be starting to pay off, but sustained progress is necessary to achieve profitability.
Source
Summary
The Board of Directors of Al Firdous (P.J.S.C.) held a meeting on Tuesday, November 12, 2024, at 3:10 PM. During the meeting, the board discussed the Audit Committee's recommendations and reviewed the company's financial statements for the second quarter ending September 30, 2024. The board decided to adopt these preliminary financial statements and authorized the chairman, Sheikh Khaled Zayed S. Al Nahayan, to sign and disclose them. A copy of this announcement has been sent to the Security and Commodities Authority.
Summary
The document is the interim condensed consolidated financial statements of Al Firdous Holdings (P.J.S.C.) and its subsidiary, based in Dubai, United Arab Emirates. It covers the six-month period ending on September 30, 2024, and includes a review report. The statements are unaudited.
