Saudi Marketing Co. (Farm Superstores) reported a net profit after Zakat and tax of SAR 6.2 million in Q1 2022, up 45% from SAR 4.3 million in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 417.46 | 438.79 | 5.1 % |
| Gross Income | 117.47 | 121.36 | 3.3 % |
| Operating Income | 12.77 | 13.31 | 4.2 % |
| Net Income | 4.26 | 6.17 | 44.9 % |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.09 | 0.14 | 44.9 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 421.96 | 438.79 | 4.0 % |
| Gross Income | 129.53 | 121.36 | (6.3 %) |
| Operating Income | 16.62 | 13.31 | (19.9 %) |
| Net Income | 8.50 | 6.17 | (27.4 %) |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.19 | 0.14 | (27.4 %) |
The profit growth was attributed to higher revenue, which was driven by an increase in retail and entertainment segments revenue. In addition, non-operating costs and expenses declined year-on-year.
When compared to the previous quarter, Q1 2022 net profit after Zakat and tax slumped 27.4%.
Shareholders’ equity, after minority interest, increased to SAR 641.139 million as of March 31, 2022, from SAR 619.092 million a year earlier.
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