Arabian Centres Co. (Cenomi Centers) reported a net profit after Zakat and tax of SAR 781.1 million in the first nine months ended Dec. 31, 2022, a 2.4% increase from SAR 764.5 million a year earlier.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 1,518.32 | 1,655.87 | 9.1 % |
| Gross Income | 1,231.99 | 1,386.85 | 12.6 % |
| Operating Income | 969.17 | 1,154.66 | 19.1 % |
| Net Income | 600.25 | 615.91 | 2.6 % |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 1.26 | 1.30 | 2.6 % |
The profit growth was driven by a 11.1% rise in revenues to SAR 1.68 billion in the nine-month period, compared to SAR 1.15 billion a year earlier.
Gross profit also grew by 13.9% year-on-year (YoY) to SAR 1.41 billion in the same period. Gross profit margin reached 84% compared with 82% a year before.
In Q3 2022/23, the company’s net profit after Zakat and tax rose 29% YoY to SAR 459.1 million on higher revenues and operating profits.
When compared to the previous quarter, net profit jumped 88% from SAR 244.2 million.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 510.60 | 573.75 | 12.4 % |
| Gross Income | 410.90 | 484.59 | 17.9 % |
| Operating Income | 308.28 | 397.04 | 28.8 % |
| Net Income | 382.08 | 257.57 | (32.6 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.80 | 0.54 | (32.6 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 562.95 | 573.75 | 1.9 % |
| Gross Income | 456.20 | 484.59 | 6.2 % |
| Operating Income | 378.86 | 397.04 | 4.8 % |
| Net Income | 183.16 | 257.57 | 40.6 % |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.39 | 0.54 | 40.6 % |
Shareholders’ equity, excluding minority interest, reached SAR 15.89 billion in the nine-month period, compared to SAR 15.33 billion in the year-ago period.
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