MOBI posts 7% decline in 2021 net profit to SAR 16.1 mln

30/03/2022 Argaam Exclusive

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National Fertilizer Co. (MOBI) posted a 7% drop in its net profit after Zakat and tax to SAR 16.1 million for 2021, compared to SAR 17.4 million a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 180.43 170.38 (5.6 %)
Gross Income 57.07 46.89 (17.8 %)
Operating Income 17.84 16.82 (5.7 %)
Net Income 17.38 16.13 (7.2 %)
Average Shares 50.00 50.00 -
EPS (Riyals) 0.35 0.32 (7.2 %)

The lower profit was attributed to higher costs of raw materials and shipping rates, in addition to an increase in the company’s promotions to gain a better market share.



Shareholders’ equity, after minority interest, grew by 8.6% to SAR 64.260 million as of Dec. 31, 2021, from SAR 59.194 million a year earlier

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