Baazeem H1 2022 profit drops 9% to SAR 13.4 mln; Q2 down 7% to SAR 4.6 mln

09/08/2022 Argaam Exclusive

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Baazeem Trading Co. posted a decline of 9% in H1 2022 net profit after Zakat and tax to SAR 13.4 million, compared to SAR 14.7 million a year earlier, due to a 4.54% decline year-on-year (YoY) in sales.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 139.21 132.89 (4.5 %)
Gross Income 54.27 49.68 (8.5 %)
Operating Income 17.32 15.36 (11.3 %)
Net Income 14.69 13.44 (8.5 %)
Average Shares 10.13 10.13 -
EPS (Riyals) 1.45 1.33 (8.5 %)

In Q2 2022, net profit after Zakat and tax decreased by 7% to SAR 4.6 million, from SAR 4.9 million in the prior-year period, as the company’s sales shrank by 1.55% YoY.

 

Compared to the previous quarter, net profit plunged 48.8% from SAR 8.89 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 59.38 58.45 (1.6 %)
Gross Income 25.18 23.06 (8.4 %)
Operating Income 6.01 5.29 (11.9 %)
Net Income 4.91 4.55 (7.2 %)
Average Shares 10.13 10.13 -
EPS (Riyals) 0.48 0.45 (7.2 %)

Shareholders’ equity, after minority interest, saw a slight decline of 0.87% to SAR 189.810 million by the end of the six-month period, from SAR 188.176 million a year earlier.

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