Al-Jouf Agricultural Development Co. reported a net profit after Zakat and tax of SAR 10.6 million for 9M 2021, down 59% from SAR 26.1 million a year earlier.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 167.15 | 216.87 | 29.7 % |
| Gross Income | 52.91 | 48.16 | (9.0 %) |
| Operating Income | 23.80 | 12.60 | (47.0 %) |
| Net Income | 26.07 | 10.60 | (59.3 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.87 | 0.35 | (59.3 %) |
The profit decline came due to the positive impact of land ownership treatment in 2020. The company also noted higher selling and distribution costs, and general and administrative expenses.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 49.05 | 99.81 | 103.5 % |
| Gross Income | 4.77 | 18.93 | 297.2 % |
| Operating Income | (8.03) | 5.41 | 167.4 % |
| Net Income | 7.65 | 3.32 | (56.6 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.25 | 0.11 | (56.6 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 55.70 | 99.81 | 79.2 % |
| Gross Income | 16.75 | 18.93 | 13.0 % |
| Operating Income | 3.40 | 5.41 | 59.1 % |
| Net Income | 3.45 | 3.32 | (3.7 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.11 | 0.11 | (3.7 %) |
The net profit after Zakat and tax dropped 57% year-on-year (YoY) to SAR 3.3 million.
On a sequential basis, Q3 net profit fell 3.7% from SAR 3.45 million.
Shareholders’ equity, after minority interest, decreased to SAR 618.736 million as of Sept. 30, 2021 from SAR 622.310 million a year earlier.
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