Riyadh - Mubasher: Middle East Pharmaceutical Industries (Avalon Pharma) reported a 107.04% increase in net profits in the first quarter of 2025, compared to the same quarter of 2024, due to sales growth and improved profit margins.

The company's results on the Saudi Stock Exchange (Tadawul) on Monday revealed a rise in net profit to SAR 19.4 million in the first quarter of this year, compared to SAR 9.37 million in the same period last year.

The company explained that the strong increase in net profits was driven by sales growth and improved profit margins, which were partially offset by increases in selling and distribution expenses and general and administrative expenses.

On a quarterly basis, the company's profits declined by 56.71%, compared to the previous quarter's profits of SAR 44.81 million.

Total sales/revenues rose to SAR 97.36 million in the first quarter of 2025, compared to SAR 75.82 million in the same period in 2024, an increase of 28.41%.