BinDawood Holding Co. reported a net profit after Zakat and tax of SAR 65.5 million for Q1 2022, increasing 5% from SAR 62.1 million in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 1,124.42 | 1,175.24 | 4.5 % |
| Gross Income | 373.36 | 383.67 | 2.8 % |
| Operating Income | 84.71 | 70.89 | (16.3 %) |
| Net Income | 62.12 | 65.46 | 5.4 % |
| Average Shares | 1,143.00 | 1,143.00 | - |
| EPS (Riyals) | 0.05 | 0.06 | 5.4 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 1,057.12 | 1,175.24 | 11.2 % |
| Gross Income | 268.86 | 383.67 | 42.7 % |
| Operating Income | (28.00) | 70.89 | 353.1 % |
| Net Income | 13.22 | 65.46 | 395.3 % |
| Average Shares | 1,143.00 | 1,143.00 | - |
| EPS (Riyals) | 0.01 | 0.06 | 395.3 % |
The profit increase was driven by a 4.5% rise year-on-year (YoY) in revenue. Moreover, the period included the month of Sha’ban and back-to-school season.
In addition, BinDawood Haramain stores in Makkah and Madinah benefitted from lifting all restrictions on pilgrims performing Umrah.
Sequentially, the company’s net profit surged nearly four-fold from SAR 13.2 million in Q4 2021.
Total shareholders’ equity, excluding minority interest, stood at SAR 1.402 billion as of March 31, 2022, down 0.63% from SAR 1.411 billion a year earlier.
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