Al Kathiri Holding Co. reported a net profit after Zakat and tax of SAR 8.5 million in 2021, a drop of 12% from SAR 9.7 million a year earlier.
The profit decline was attributed to higher general and administrative expenses due to the formation of credit loss provision for 2021, as well as increased financing charges.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 104.44 | 128.78 | 23.3 % |
| Gross Income | 26.97 | 40.22 | 49.1 % |
| Operating Income | 10.36 | 13.31 | 28.5 % |
| Net Income | 9.66 | 8.67 | (10.3 %) |
| Average Shares | 226.04 | 226.04 | - |
| EPS (Halala) | 4.27 | 3.83 | (10.3 %) |
In Q4 2021, the company swung to a net loss after Zakat and tax of SAR 3.3 million against a net profit of SAR 4.3 million in the year-ago period.
In Q3 2021, the company made a net profit of SAR 4.5 million.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 37.08 | 11.90 | (67.9 %) |
| Gross Income | 11.78 | 7.15 | (39.3 %) |
| Operating Income | 4.46 | 0.00 | (100.0 %) |
| Net Income | 4.69 | (3.07) | (165.6 %) |
| Average Shares | 226.04 | 226.04 | - |
| EPS (Halala) | 2.07 | (1.36) | (165.6 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 41.48 | 11.90 | (71.3 %) |
| Gross Income | 11.37 | 7.15 | (37.1 %) |
| Operating Income | 5.44 | 0.00 | (100.0 %) |
| Net Income | 4.49 | (3.07) | (168.4 %) |
| Average Shares | 226.04 | 226.04 | - |
| EPS (Halala) | 1.99 | (1.36) | (168.4 %) |
Shareholders’ equity, after minority interest, increased by 6.6% to SAR 133.7 million in 2021, from SAR 125.5 million in 2020.
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