AYYAN Investment Co. reported a net profit after Zakat and tax of SAR 1.7 million in H1 2022, a decline of 79%, compared to SAR 8 million in the prior-year period.
The decline was attributed to lower revenue, increased cost of revenue, lower gross profit and unrealized gains on investments at fair value, as well as higher Zakat expenses.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 142.96 | 141.46 | (1.1 %) |
| Gross Income | 41.45 | 32.08 | (22.6 %) |
| Operating Income | (0.91) | (6.98) | (664.1 %) |
| Net Income | 7.98 | 1.69 | (78.9 %) |
| Average Shares | 75.46 | 80.64 | 6.9 % |
| EPS (Riyals) | 0.11 | 0.02 | (80.2 %) |
The company turned to a net loss of SAR 11.7 million in Q2 2022 from a profit of SAR 620,000 a year earlier.
On a sequential basis, AYYAN also turned to losses from a net profit of SAR 13.4 million in Q1 2022.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 70.43 | 65.86 | (6.5 %) |
| Gross Income | 20.00 | 12.96 | (35.2 %) |
| Operating Income | (2.79) | (8.55) | (206.9 %) |
| Net Income | 0.62 | (11.73) | (2004.0 %) |
| Average Shares | 75.46 | 80.64 | 6.9 % |
| EPS (Riyals) | 0.01 | (0.15) | (1881.8 %) |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 75.60 | 65.86 | (12.9 %) |
| Gross Income | 19.13 | 12.96 | (32.3 %) |
| Operating Income | 1.56 | (8.55) | (646.8 %) |
| Net Income | 13.42 | (11.73) | (187.4 %) |
| Average Shares | 80.64 | 80.64 | - |
| EPS (Riyals) | 0.17 | (0.15) | (187.4 %) |
Total shareholders’ equity, excluding minority interest, stood at SAR 810.346 million by the end of H1 2022, compared to SAR 758.786 million in the year-earlier period.
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