Abdulla Saad Abo Mohammed Abo Moati for Bookstores Co. posted a drop of 18.8% in net profit after Zakat and tax to SAR 14.8 million for the fiscal year ended March 31, 2020, compared to net profit of SAR 18.2 million a year earlier.
The profit decline was attributed to lower ink sales, as well as the closure of retail and wholesale stores since March 16 due to the COVID-19 outbreak.
The company incurred higher operating expenses due to opening new retail branches, and reported a drop in other income and leasing returns.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 316.86 | 297.07 | (6.2 %) |
| Gross Income | 61.63 | 60.17 | (2.4 %) |
| Operating Income | 24.11 | 19.66 | (18.5 %) |
| Net Income | 18.21 | 13.88 | (23.8 %) |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | 0.91 | 0.69 | (23.8 %) |
The fourth quarter net profit dipped 19% YoY to SAR 3.8 million.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 77.18 | 75.53 | (2.1 %) |
| Gross Income | 16.76 | 15.92 | (5.0 %) |
| Operating Income | 6.39 | 4.68 | (26.7 %) |
| Net Income | 4.62 | 3.75 | (18.7 %) |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | 0.23 | 0.19 | (18.7 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 84.59 | 75.53 | (10.7 %) |
| Gross Income | 17.29 | 15.92 | (7.9 %) |
| Operating Income | 5.86 | 4.68 | (20.2 %) |
| Net Income | 4.78 | 3.75 | (21.4 %) |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | 0.24 | 0.19 | (21.4 %) |
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