In this report, Argaam captures the expected results of Herfy Food Services Co., during the third quarter of 2021, in addition to the development of quarterly revenue, performance and profitability indicators.
The third-quarter revenue is expected to grow by 10.89% year-on-year (YoY) to SAR 345 million.
| Item | Q3 2020 |
Q4 2020 |
Q1 2021 |
Q2 2021 |
Q3 2021 (Average Estimate) |
|---|---|---|---|---|---|
| Sales | 311.12 | 297.94 | 311.12 | 321.37 | 345.00 |
| Change % | (8.25%) | (8.75%) | 4.78% | 88.93% | 10.89% |
| Income from Affiliate | 0.00 | 0.00 | 0.00 | 0.00 | NA |
| Change % | NA | NA | NA | NA | NA |
| Item | Q3 2020 | Q4 2020 | Q1 2021 | Q2 2021 | Q3 2021 (Average Estimate) |
|---|---|---|---|---|---|
| Net Income | 41.38 | 20.57 | 25.47 | 26.67 | 38.00 |
| Extraordinary income/expense | 3.01 | (6.22) | 0.00 | 0.00 | - |
| Net Profit Before Unusual Items | 38.37 | 26.79 | 25.47 | 26.67 | - |
| EPS Before Unusual Items (Riyal/Share) | 0.59 | 0.41 | 0.39 | 0.41 | 0.59 |
Key events in Q3 2021
The company extended its non-binding memorandum of understanding (MoU) with EatRite Food Services, granting it franchise rights to open 50 Herfy restaurant branches in Nigeria.
Average forecast
Herfy is expected to post a net profit of SAR 38 million in Q3 2021, a marginal decrease of 1% YoY, based on the estimate of one research firm.
| Analyst | Million Riyals |
|---|---|
| Al Rajhi Capital Company | 38.00 |
| Average | 38.00 |
| Net Profit Before Unusual Items (2020 - Q3) | 38.37 |
| Change % | (0.96%) |
| Item | The Company | TASI |
|---|---|---|
| YTD | (4.17 %) | 34.97 % |
| Change(12M) | (10.26 %) | 35.16 % |
| Previous Close | 61.30 | 11,624.98 |
| P/E adjusted (x) | 28.53 | 24.19 |
| EPS (TTM) before unusual items (SAR/Share) | 1.81 | - |
| P/E (TTM) | More than 50 |
| P/E Before Unusual Items (TTM) | More than 50 |
| P/BV | 1.94 |
| Dividend Yield | 0.00 % |
| Market Cap. (M) | 2,008.31 |
| Return on Average Assets | 1.11 % |
| Return on Average Equity | 2.08 % |
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