Herfy swings to SAR 56.6M net loss in 9M 2024; Q3 loss at SAR 33.4M

27/10/2024 Argaam Exclusive

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Herfy Food Services Co. (Herfy) reported a net loss of SAR 56.6 million for the first nine months of 2024, versus a net profit of SAR 2.8 million in the prior-year period, due to lower revenue as sales in restaurant and bakeries segments edged down.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 876.39 868.82 (0.9 %)
Gross Income 209.20 184.12 (12.0 %)
Operating Income 18.84 (27.18) (244.3 %)
Net Income 2.76 (56.62) (2150.3 %)
Average Shares 64.68 64.68 -
Earnings Per Share before unusual items (Riyals) 0.04 (0.75) (1857.2 %)
EPS (Riyals) 0.04 (0.88) (2150.3 %)

Meanwhile, the company noted a decline in selling and marketing expenses, decreased general and administration expenses.

 

 



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 313.04 278.65 (11.0 %)
Gross Income 83.09 46.48 (44.1 %)
Operating Income 19.71 (22.42) (213.8 %)
Net Income 11.04 (33.37) (402.2 %)
Average Shares 64.68 64.68 -
Earnings Per Share before unusual items (Riyals) 0.17 (0.52) (402.2 %)
EPS (Riyals) 0.17 (0.52) (402.2 %)

The company reported a net loss of SAR 33.4 million in Q3 2024, versus a net profit of SAR 11.04 million in Q3 2023, on decreased sales and other income.

 

On a sequential basis, net loss widened from SAR 23.7 million.

 

Total shareholders’ equity, no minority interest, reached SAR 976.86 million by Sept. 30, 2024, compared to SAR 1.02 billion a year earlier.

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Share Price

Herfy Food Services Co.
21.20
0.10 0.47 %

Herfy Food Services Co. (HERFY FOODS)

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Financial Ratios
Current
Market Cap (M Riyal) 1,371.22
Enterprise Value (EV) (M) 1,343.84
Shares Outstanding ((M)) 64.68
EPS ( Riyal) (TTM) (1.80)
Book Value (BV) ( Riyal) 14.30
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.48
Return on Average Assets (%) (TTM) (6.28 )
Return on Average Equity (%) (TTM) (8.23 )
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