Saudi Marketing Co.'s (Farm Superstores) net profit after zakat and tax plummeted 92.9 percent year-on-year (YoY) to SAR 3.5 million in the first nine months of 2018, on lower revenue and higher discounts.
In addition, increased selling, general and administrative expenses (SG&A) and depreciation costs also weighed on the nine-month figures.
|Gross Income||370.22||353.42||(4.5 %)|
|Operating Income||60.03||16.82||(72.0 %)|
|Net Income||50.08||3.51||(93.0 %)|
|EPS (SAR)||1.11||0.08||(93.0 %)|
In Q3 2018, the company's net profit after zakat and tax tumbled 55 percent YoY to SAR 3.2 million due to higher SG&A. The company also incurred net non-operating costs of SAR 4.6 million in the current quarter, compared to SAR 3.2 million in Q3 2017.
Meanwhile, Farm Superstores turned profitable in Q3 2018, compared to a net loss of SAR 11.9 million in the previous quarter, thanks to improved profit margins.
|P/E Before Unusual Items (TTM)||HIGH|
|Dividend Yield||3.20 %|
|Market Cap. (M)||773.10|
|Return on Average Assets||0.77 %|
|Return on Average Equity||2.00 %|