BinDawood Holding Co. reported a net profit after Zakat and tax of SAR 227.4 million for the first nine months of 2021, a fall of 42% from SAR 390.3 million in the year-earlier period.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 4,043.29 | 3,325.05 | (17.8 %) |
| Gross Income | 1,312.84 | 1,170.06 | (10.9 %) |
| Operating Income | 443.05 | 292.97 | (33.9 %) |
| Net Income | 390.33 | 227.35 | (41.8 %) |
| Average Shares | 1,143.00 | 1,143.00 | - |
| EPS (Riyals) | 0.34 | 0.20 | (41.8 %) |
The profit decline came as 9M revenue fell 17.8% year-on-year (YoY), mainly due to higher revenue in first half of 2020, which was unseasonably high due to the effect of pantry-buying in response to the COVID-19 pandemic, bulk buying in anticipation of VAT change as of July 1, and restrictions on international travel.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 1,082.48 | 1,077.81 | (0.4 %) |
| Gross Income | 356.27 | 397.30 | 11.5 % |
| Operating Income | 84.11 | 93.25 | 10.9 % |
| Net Income | 78.65 | 70.24 | (10.7 %) |
| Average Shares | 1,143.00 | 1,143.00 | - |
| EPS (Riyals) | 0.07 | 0.06 | (10.7 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 1,122.82 | 1,077.81 | (4.0 %) |
| Gross Income | 399.40 | 397.30 | (0.5 %) |
| Operating Income | 115.01 | 93.25 | (18.9 %) |
| Net Income | 94.99 | 70.24 | (26.1 %) |
| Average Shares | 1,143.00 | 1,143.00 | - |
| EPS (Riyals) | 0.08 | 0.06 | (26.1 %) |
In Q3 2021, net profit after Zakat and tax decreased by 11% to SAR 70.2 million from SAR 78.7 million a year earlier, hit by
When compared to the previous quarter, Q3 net profit saw a decline of 26% to SAR 95 million.
Shareholders’ equity, after minority interest, fell 6% to SAR 1.397 billion as of Sept. 30, 2021, from SAR 1.486 billion a year earlier.
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