Baazeem Trading Co. reported a net profit after Zakat and tax of SAR 17.5 million for the first nine months of 2022, a 7% decline compared to SAR 18.9 million in the same period last year.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 198.73 | 196.10 | (1.3 %) |
| Gross Income | 74.97 | 72.14 | (3.8 %) |
| Operating Income | 22.14 | 20.73 | (6.4 %) |
| Net Income | 18.87 | 17.49 | (7.3 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 1.86 | 1.73 | (7.3 %) |
The profit drop was due to lower sales and higher cost of goods sold, driven by global inflation.
The company reported a net profit of SAR 4 million for Q3 2022, a 3% year-on-year (YoY) decrease, due to one-off cash dividends from its investments in the third quarter of 2021.
On a sequential basis, net profit fell 11% from SAR 4.6 million on higher cost of sales.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 59.52 | 63.21 | 6.2 % |
| Gross Income | 20.70 | 22.46 | 8.5 % |
| Operating Income | 4.82 | 5.36 | 11.3 % |
| Net Income | 4.18 | 4.04 | (3.3 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.41 | 0.40 | (3.3 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 58.45 | 63.21 | 8.1 % |
| Gross Income | 23.06 | 22.46 | (2.6 %) |
| Operating Income | 5.29 | 5.36 | 1.3 % |
| Net Income | 4.55 | 4.04 | (11.2 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.45 | 0.40 | (11.2 %) |
Total shareholders’ equity, after minority interest, reached SAR 186.766 million as of Sept. 30, 2022, from SAR 192.357 million a year earlier.
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