Maharah Human Resources Co. reported a net profit after Zakat and tax of SAR 154.8 million for the first nine months of 2020, a 25% decline, compared to SAR 206.1 million in the same period last year.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 1,126.47 | 1,084.31 | (3.7 %) |
| Gross Income | 272.97 | 215.71 | (21.0 %) |
| Operating Income | 218.73 | 161.68 | (26.1 %) |
| Net Income | 206.13 | 154.79 | (24.9 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.43 | 0.33 | (24.9 %) |
The company attributed the net profit decline to lower revenue from both corporate and individual segments due to the decrease in the average number of resources as a result of the effects of the spread of COVID-19 and precautionary measures taken by the government, including the temporary suspension during the second quarter of Khidmah program (part-time services).
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 386.37 | 342.07 | (11.5 %) |
| Gross Income | 106.27 | 62.79 | (40.9 %) |
| Operating Income | 87.11 | 47.47 | (45.5 %) |
| Net Income | 80.13 | 48.11 | (40.0 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.17 | 0.10 | (40.0 %) |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 352.49 | 342.07 | (3.0 %) |
| Gross Income | 73.89 | 62.79 | (15.0 %) |
| Operating Income | 54.45 | 47.47 | (12.8 %) |
| Net Income | 49.42 | 48.11 | (2.6 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.10 | 0.10 | (2.6 %) |
The company reported a net profit of SAR 48.1 million for Q3 2020, a 40% year-on-year (YoY) decline, due to lower revenues and gross profit.
On a sequential basis, Q3 2020 net profit fell 2.7% on lower gross profit.
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