Baazeem Trading Co. reported a net profit after Zakat and tax of SAR 18.9 million for the first nine months of 2021, a 7% decline compared to SAR 20.4 million in the same period last year.
The company attributed the decrease in net profit to lower sales.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 218.62 | 198.73 | (9.1 %) |
| Gross Income | 83.83 | 74.97 | (10.6 %) |
| Operating Income | 25.29 | 22.14 | (12.5 %) |
| Net Income | 20.39 | 18.87 | (7.4 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 2.01 | 1.86 | (7.4 %) |
The company reported a net profit of SAR 4.2 million for Q3 2021, a 15% year-on-year (YoY) decrease.
On a sequential basis, net profit fell 14.8% from SAR 4.9 million in Q2 2021 on the change in the company’s brand mix.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 66.00 | 59.52 | (9.8 %) |
| Gross Income | 24.95 | 20.70 | (17.0 %) |
| Operating Income | 6.38 | 4.82 | (24.5 %) |
| Net Income | 4.89 | 4.18 | (14.5 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.48 | 0.41 | (14.5 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 59.38 | 59.52 | 0.2 % |
| Gross Income | 25.18 | 20.70 | (17.8 %) |
| Operating Income | 6.01 | 4.82 | (19.9 %) |
| Net Income | 4.91 | 4.18 | (14.8 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.48 | 0.41 | (14.8 %) |
Shareholders’ equity, after minority interest, grew to SAR 192.35 million as of Sept. 30, 2021, from SAR 185.32 million a year earlier.
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