Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) reported a net loss of SAR 91.8 million in the first nine months of 2023, against a profit of SAR 21.9 million in the year-earlier period.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 4,465.25 | 4,220.78 | (5.5 %) |
| Gross Income | 603.63 | 556.95 | (7.7 %) |
| Operating Income | 159.93 | 35.50 | (77.8 %) |
| Net Income | 21.87 | (91.78) | (519.7 %) |
| Average Shares | 114.77 | 114.77 | - |
| EPS (Riyals) | 0.19 | (0.80) | (519.7 %) |
Revenues declined in the nine-month period by 5.5% to SAR 4.2 billion due to the ongoing operational optimization program and weaker retail spend during the summer months.
Gross profit fell 7.7% year-on-year YoY from SAR 603.6 million in 9M 2022 to SAR 574 million in 9M 2023, due to increased discounting during the summer months.
Selling and general and administrative expenses (SG&A) grew 19.8% to SAR 392 million compared to SAR 327.3 million a year earlier. The company also reported higher net finance costs.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 1,372.88 | 1,186.81 | (13.6 %) |
| Gross Income | 182.23 | 70.86 | (61.1 %) |
| Operating Income | 31.01 | (93.47) | (401.4 %) |
| Net Income | 19.83 | (204.12) | (1129.3 %) |
| Average Shares | 114.77 | 114.77 | - |
| EPS (Riyals) | 0.17 | (1.78) | (1129.3 %) |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 1,613.42 | 1,186.81 | (26.4 %) |
| Gross Income | 329.16 | 70.86 | (78.5 %) |
| Operating Income | 155.53 | (93.47) | (160.1 %) |
| Net Income | 167.18 | (204.12) | (222.1 %) |
| Average Shares | 114.77 | 114.77 | - |
| EPS (Riyals) | 1.46 | (1.78) | (222.1 %) |
In Q3 2023, the company incurred a loss of SAR 204.1 million against a profit of SAR 19.8 million in Q3 2022.
On a sequential basis, Cenomi Retail turned to losses from a profit of SAR 167.18 million in Q2 2023 on improved sales.
Shareholders’ equity, excluding minority interest, reached SAR 221.1 million as of Sept. 30, 2023, down from SAR 297.5 million a year earlier.
Accumulated losses stood at SAR 319.37 million by the end of the nine-month period, representing 27.8% of capital.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}