Zahrat Al Waha for Trading Co. reported a net profit of SAR 10.3 million in the first nine months of 2022, a 77% decline from SAR 44.1 million in the year-ago period.
The profit decline was attributed to higher cost of goods sold, selling and distribution expenses, general and administrative expenses and lower other revenue, financing cost and profits from investments at FVTPL.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 408.22 | 507.60 | 24.3 % |
| Gross Income | 58.42 | 36.45 | (37.6 %) |
| Operating Income | 43.75 | 22.14 | (49.4 %) |
| Net Income | 44.07 | 10.34 | (76.5 %) |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 1.96 | 0.46 | (76.5 %) |
In Q3 2022, the net profit fell 94% to SAR 421,795, from SAR 7.47 million in the year before.
Sequentially, the company’s net profit retreated 89.5% from SAR 4 million in Q2 2022.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 165.49 | 171.50 | 3.6 % |
| Gross Income | 16.03 | 9.35 | (41.7 %) |
| Operating Income | 10.62 | 4.64 | (56.4 %) |
| Net Income | 7.47 | 0.42 | (94.4 %) |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.33 | 0.02 | (94.4 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 184.27 | 171.50 | (6.9 %) |
| Gross Income | 14.68 | 9.35 | (36.3 %) |
| Operating Income | 9.76 | 4.64 | (52.5 %) |
| Net Income | 4.01 | 0.42 | (89.5 %) |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.18 | 0.02 | (89.5 %) |
Shareholders’ equity, no minority interest, rose to SAR 290.439 million as of Sept. 30, 2022, from SAR 281.388 billion in the year-earlier period.
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