Abdullah Al Othaim Markets Co. reported a net profit after Zakat and tax of SAR 344.67 million for the fiscal year (FY) 2019, up 13.9% year-on-year (YoY), as compared to SAR 302.6 million in FY2018.
The earnings increase is attributed to an improvement in gross margin and growth in sales by 8.81%, the company said in a bourse statement.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 7,504.46 | 8,165.88 | 8.8 % |
| Gross Income | 1,531.17 | 1,692.91 | 10.6 % |
| Operating Income | 247.97 | 317.03 | 27.9 % |
| Net Income | 302.60 | 344.67 | 13.9 % |
| Average Shares | 900.00 | 900.00 | - |
| EPS (Riyals) | 0.34 | 0.38 | 13.9 % |
The firm's net profit for Q4 2019 rose 33.02% YoY to SAR 142.23 million due to recognizing a sum of SAR 38.71 million as impairment provision for certain assets and properties.
On a sequential basis, Q4 2019 net profit increased 88.68% from the previous quarter on increase in other operating income.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 1,939.04 | 2,098.53 | 8.2 % |
| Gross Income | 474.84 | 512.27 | 7.9 % |
| Operating Income | 132.16 | 143.68 | 8.7 % |
| Net Income | 106.92 | 142.23 | 33.0 % |
| Average Shares | 900.00 | 900.00 | - |
| EPS (Riyals) | 0.12 | 0.16 | 33.0 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 1,936.92 | 2,098.53 | 8.3 % |
| Gross Income | 400.01 | 512.27 | 28.1 % |
| Operating Income | 67.00 | 143.68 | 114.5 % |
| Net Income | 75.38 | 142.23 | 88.7 % |
| Average Shares | 900.00 | 900.00 | - |
| EPS (Riyals) | 0.08 | 0.16 | 88.7 % |
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