AYYAN Investment Co. reported a net profit after Zakat and tax of SAR 14.3 million for the first nine months of 2021, a 55% decline compared to a net profit of SAR 13.4 million in the same period last year.
The company attributed the decrease in net profit to higher general and administrative expenses, higher financing cost. In addition there was no recognition of bargain purchase during the current quarter.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 190.70 | 208.77 | 9.5 % |
| Gross Income | 51.42 | 58.06 | 12.9 % |
| Operating Income | 3.04 | 1.17 | (61.7 %) |
| Net Income | 29.06 | 11.72 | (59.7 %) |
| Average Shares | 73.73 | 75.46 | 2.3 % |
| EPS (Riyals) | 0.39 | 0.16 | (60.6 %) |
The company reported a net profit of SAR 4.6 million for Q3 2021, a 57% year-on-year (YoY) decrease.
On a sequential basis, net profit grew over two folds from SAR 1.2 million in Q2 2021 on lower general and administrative expenses, higher dividend revenue received, and realizing a profit from affiliate.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 65.95 | 65.80 | (0.2 %) |
| Gross Income | 18.98 | 16.61 | (12.5 %) |
| Operating Income | 2.11 | 2.08 | (1.2 %) |
| Net Income | 9.19 | 3.74 | (59.4 %) |
| Average Shares | 73.73 | 75.46 | 2.3 % |
| EPS (Riyals) | 0.12 | 0.05 | (60.3 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 70.43 | 65.80 | (6.6 %) |
| Gross Income | 20.00 | 16.61 | (17.0 %) |
| Operating Income | (2.79) | 2.08 | 174.7 % |
| Net Income | 0.62 | 3.74 | 506.3 % |
| Average Shares | 75.46 | 75.46 | - |
| EPS (Riyals) | 0.01 | 0.05 | 506.3 % |
Shareholders’ equity, after minority interest, dropped to SAR 762.521 million as of Sept. 30, 2021, from SAR 763.663 million a year earlier.
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