Scientific & Medical Equipment House Co. (Equipment House) reported a net profit after Zakat and tax of SAR 16.8 million in Q1 2022, a decline of 10% from SAR 18.7 million in a year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 151.56 | 162.56 | 7.3 % |
| Gross Income | 32.66 | 37.92 | 16.1 % |
| Operating Income | 19.39 | 21.84 | 12.7 % |
| Net Income | 19.19 | 16.73 | (12.8 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.64 | 0.56 | (12.8 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 205.30 | 162.56 | (20.8 %) |
| Gross Income | 39.07 | 37.92 | (3.0 %) |
| Operating Income | 17.52 | 21.84 | 24.6 % |
| Net Income | 17.45 | 16.73 | (4.2 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.58 | 0.56 | (4.2 %) |
This was driven by higher direct, general and administrative costs due to the establishment of a new subsidiary at the end of 2021, in addition to the increase in the financing and Zakat expenses.
On a sequential basis, net earnings dropped 8.2%.
Total shareholders’ equity, excluding minority interest, increased 17.4% year-on-year to SAR 490.2 million as of March 31, 2022.
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