Maharah Human Resources Co.’s net profit after Zakat and tax fell 18% to SAR 144.9 million in 2021, compared to SAR 177.3 million in 2020.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 1,416.36 | 1,318.73 | (6.9 %) |
| Gross Income | 262.69 | 219.90 | (16.3 %) |
| Operating Income | 183.03 | 146.03 | (20.2 %) |
| Net Income | 177.32 | 144.93 | (18.3 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.37 | 0.31 | (18.3 %) |
The company’s revenue decreased 7% year-on-year (YoY), with corporate segment revenue down 9% YoY due to a fall in the average number of resources amid continued suspension of international flights from workforce’s sourcing countries during most of the year.
Moreover, the selling and marketing expenses increased by SAR 2.4 million as a result of advertising campaigns YoY.
In addition, profit from the investment in the financial instruments through profit or loss increased by SAR 1.2 million YoY while recognition of gain worth SAR 10.7 million from land sale.
The company’s Q4 2021 net profit after Zakat and tax surged 74% YoY to SAR 39.3 million.
Sequentially, profit climbed 10.2% from SAR 35.63 million in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 332.04 | 349.67 | 5.3 % |
| Gross Income | 46.98 | 56.59 | 20.5 % |
| Operating Income | 21.35 | 34.28 | 60.6 % |
| Net Income | 22.53 | 39.27 | 74.3 % |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.05 | 0.08 | 74.3 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 324.83 | 349.67 | 7.6 % |
| Gross Income | 54.29 | 56.59 | 4.2 % |
| Operating Income | 36.31 | 34.28 | (5.6 %) |
| Net Income | 35.63 | 39.27 | 10.2 % |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.08 | 0.08 | 10.2 % |
Total shareholders’ equity, excluding minority interest, rose 2.4% YoY to SAR 572.4 million.
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