News & Insights

Events / August 11, 2024

Highlights from Al Kathiri Holding’s Business Advisor Omar bin Saleh Al-Zamil’s Interview with Al Arabiya on Q2 2024 Results and Future Directions

Al Kathiri Holding’s Business Advisor, Mr. Omar bin Saleh Al-Zamil, discussed the company’s performance in Q2 2024 and its future outlook during his recent interview with Al Arabiya channel.

Strong Financial Performance Amid Challenges

Mr. Al-Zamil highlighted that the company achieved remarkable revenue growth of 29% in Q2 2024 compared to the same period last year. Over the first six months, total revenues increased from SAR 64 million to SAR 88 million, reflecting the company’s resilience and ability to expand despite challenges such as rising raw material costs and high borrowing expenses, which have impacted demand momentum across its business sectors.

Optimistic Outlook for Improved Performance

He expressed optimism about the company’s future performance, expecting improved results as interest rates are reduced, which is anticipated to boost demand for the products and services offered by Al Kathiri Holding’s subsidiaries.

Strategic Plans for Growth and Expansion

Mr. Al-Zamil stated that the company has developed strategic plans to achieve growth across all business lines. This includes exploring future investment opportunities to export advanced building materials and methods produced by Elian Industries to various international markets. He also emphasized the company’s efforts to diversify and enhance the quality of its concrete products to meet global standards and cater to upcoming project demands.

Innovative Investments and Promising Projects

Highlighting the diversification of its investment portfolio, Mr. Al-Zamil revealed significant progress in the “Luxury Yacht” project, with the first yacht expected to be launched in Q1 2025.

Focus on Sustainability, Health, and Safety

In conclusion, Mr. Al-Zamil reiterated the company’s commitment to improving its health, safety, and environmental performance. He emphasized that sustainability has become a core principle in Al Kathiri Holding’s strategies and operational processes, solidifying its role as a key player in sustainable development across its sectors.