Abdullah Al Othaim Markets Co. reported net profit after Zakat and tax of SAR 105.6 million for H1 2021, a decline of 53%, from SAR 224.80 million in prior-year period, driven by lower sales and decreased gross margins.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 4,953.92 | 4,268.41 | (13.8 %) |
| Gross Income | 971.47 | 819.71 | (15.6 %) |
| Operating Income | 240.19 | 84.03 | (65.0 %) |
| Net Income | 224.80 | 105.61 | (53.0 %) |
| Average Shares | 900.00 | 900.00 | - |
| EPS (Riyals) | 0.25 | 0.12 | (53.0 %) |
Q2 2021 net profit dropped 62% year-on-year (YoY) to SAR 47.9 million, due to a 15.66% YoY slump in sales and lower gross margin.
The second quarter of 2020 witnessed higher retail sales driven by stronger demand on the COVID-19 lockdown.
On a sequential basis, Q2 net profit fell 16.9%.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 2,574.43 | 2,171.27 | (15.7 %) |
| Gross Income | 512.15 | 400.49 | (21.8 %) |
| Operating Income | 147.37 | 36.73 | (75.1 %) |
| Net Income | 125.25 | 47.93 | (61.7 %) |
| Average Shares | 900.00 | 900.00 | - |
| EPS (Riyals) | 0.14 | 0.05 | (61.7 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 2,097.15 | 2,171.27 | 3.5 % |
| Gross Income | 419.22 | 400.49 | (4.5 %) |
| Operating Income | 47.30 | 36.73 | (22.3 %) |
| Net Income | 57.68 | 47.93 | (16.9 %) |
| Average Shares | 900.00 | 900.00 | - |
| EPS (Riyals) | 0.06 | 0.05 | (16.9 %) |
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