Zahrat Al Waha for Trading Co. reported a net profit after Zakat and tax of SAR 5.9 million for Q1 2022, a 71% decline from a profit of SAR 20.3 million in the same period a year earlier.
The profit decline is attributed to higher cost of goods sold, selling and distribution expenses and general and administrative expenses, in addition to lower investment profits and other revenues.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 118.14 | 151.84 | 28.5 % |
| Gross Income | 22.64 | 12.41 | (45.2 %) |
| Operating Income | 17.98 | 7.74 | (56.9 %) |
| Net Income | 20.32 | 5.91 | (70.9 %) |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.90 | 0.26 | (70.9 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 140.80 | 151.84 | 7.8 % |
| Gross Income | 29.40 | 12.41 | (57.8 %) |
| Operating Income | 25.84 | 7.74 | (70.0 %) |
| Net Income | 20.50 | 5.91 | (71.2 %) |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.91 | 0.26 | (71.2 %) |
Sequentially, the company’s net profit fell 71.2% in Q1 2022 from a profit of SAR 20.5 million in Q4 2021.
Total shareholders’ equity stood at SAR 308.070 million as of March 31, 2022, increasing by 12.9% from SAR 272.917 million a year earlier.
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