Zahrat Al Waha for Trading Co. reported a net profit after Zakat and tax of SAR 44.1 million for the first nine months of 2021, a 65% increase from SAR 26.7 million in the year-ago period.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 333.80 | 408.22 | 22.3 % |
| Gross Income | 50.55 | 58.42 | 15.6 % |
| Operating Income | 37.61 | 43.75 | 16.3 % |
| Net Income | 26.73 | 44.07 | 64.9 % |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 1.19 | 1.96 | 64.9 % |
The rise in net profit was attributed to higher sales and other income, along with a decrease in general and administrative expenses and financing costs. The company also realized higher profits from investments at fair value from its investment portfolio.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 101.54 | 165.49 | 63.0 % |
| Gross Income | 14.93 | 16.03 | 7.4 % |
| Operating Income | 10.85 | 10.62 | (2.1 %) |
| Net Income | 7.20 | 7.47 | 3.8 % |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.32 | 0.33 | 3.8 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 124.59 | 165.49 | 32.8 % |
| Gross Income | 19.75 | 16.03 | (18.8 %) |
| Operating Income | 15.15 | 10.62 | (29.9 %) |
| Net Income | 16.28 | 7.47 | (54.1 %) |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.72 | 0.33 | (54.1 %) |
The net profit after Zakat and tax edged up 4% year-on-year (YoY) to SAR 7.5 million in Q3 2021, due to higher sales and lower financing costs.
On a sequential basis, Q3 net profit slumped 54.1% from SAR 16.28 million.
Shareholders’ equity, after minority interest, increased to SAR 281.39 million as of Sept. 30, 2021, from SAR 238.48 million a year earlier.
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