Saudi Marketing Co. (Farm Superstores) reported net profit growth of 10% to SAR 22.8 million in 2022, compared to SAR 20.8 million in a year earlier period.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 1,651.40 | 1,798.68 | 8.9 % |
| Gross Income | 486.87 | 516.59 | 6.1 % |
| Operating Income | 54.04 | 68.70 | 27.1 % |
| Net Income | 20.77 | 22.83 | 9.9 % |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.46 | 0.51 | 9.9 % |
This profit rise was fueled by a SAR 147.3 million revenue increase year-on-year (YoY) on higher revenue from retail and entertainment segments.
This was offset by higher selling and distribution expenses and increased general and administrative expenses, amounting to SAR 15.1 million.
Q4 2022 net earnings dropped 21% to SAR 6.75 million, from SAR 8.50 million in the year-earlier period.
On a quarterly basis, net profit jumped 49% from SAR 4.52 million in Q3 2022.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 421.96 | 477.00 | 13.0 % |
| Gross Income | 129.53 | 137.77 | 6.4 % |
| Operating Income | 16.62 | 26.19 | 57.6 % |
| Net Income | 8.50 | 6.75 | (20.6 %) |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.19 | 0.15 | (20.6 %) |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 430.48 | 477.00 | 10.8 % |
| Gross Income | 129.57 | 137.77 | 6.3 % |
| Operating Income | 13.66 | 26.19 | 91.7 % |
| Net Income | 4.52 | 6.75 | 49.3 % |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.10 | 0.15 | 49.3 % |
Total shareholders’ equity, excluding minority interest, stood at SAR 658.91 million by Dec. 31, 2022, compared to SAR 634.95 million a year earlier.
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