Financial Results : Abo Moati net profit surges to SAR 7.2 mln in 6M 2021/22

Abo Moati net profit surges to SAR 7.2 mln in 6M 2021/22

04/11/2021 Argaam Exclusive

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Abdullah Saad Mohammed Abo Moati for Bookstores Co. reported a net profit after Zakat and tax of SAR 7.2 million for the six months ending Sept. 30, 2021, an increase by more than four-fold, from SAR 1.5 million in the prior-year period.

 

This profit increase was driven by a 22.72% increase in sales, higher rent revenue and lower financing expenses.

 



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 96.42 118.33 22.7 %
Gross Income 20.29 28.08 38.4 %
Operating Income 3.21 8.68 170.7 %
Net Income 1.50 7.22 380.8 %
Average Shares 20.00 20.00 -
EPS (Riyals) 0.08 0.36 380.8 %

The company’s Q2 2021/2022 net profit after Zakat and tax jumped by 61% year-on-year (YoY) to SAR 5.3 million, on a 21.06% increase in sales as a result of the resumption of the commercial activities. The company also cited higher rent revenue and lower financing expenses.

 

On a sequential basis, net profit increased by more than two-fold from SAR 1.91 million in Q1 2021/2022.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 60.26 72.95 21.0 %
Gross Income 12.40 17.59 41.9 %
Operating Income 1.88 6.68 255.2 %
Net Income 3.30 5.31 60.9 %
Average Shares 20.00 20.00 -
EPS (Riyals) 0.17 0.27 60.9 %

Total shareholders’ equity, after deducting minority equity, inched up 0.58% YoY to SAR 230.97 million for the six-month period.

 

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