Alamar Foods Co. reported a net profit after Zakat and tax of SAR 66.8 million in H1 2022, an increase of 10%, compared to SAR 60.9 million in the prior-year period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 401.65 | 526.95 | 31.2 % |
| Gross Income | 142.35 | 184.24 | 29.4 % |
| Operating Income | 61.93 | 72.25 | 16.7 % |
| Net Income | 61.91 | 67.22 | 8.6 % |
| Average Shares | 25.50 | 25.50 | - |
| EPS (Riyals) | 2.43 | 2.64 | 8.6 % |
This was triggered by the significant growth in sales, partially offset by the increase in the costs of raw materials as well as some expenses that are related to the second quarter only.
The company’s Q2 2022 net profit after Zakat and tax dropped 8% to SAR 23.6 million from SAR 25.66 million a year earlier, driven by higher costs of raw materials and increased expenses related to the three-month period.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 197.51 | 255.98 | 29.6 % |
| Gross Income | 65.42 | 85.36 | 30.5 % |
| Operating Income | 26.31 | 27.00 | 2.6 % |
| Net Income | 25.51 | 23.98 | (6.0 %) |
| Average Shares | 25.50 | 25.50 | - |
| EPS (Riyals) | 1.00 | 0.94 | (6.0 %) |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 270.97 | 255.98 | (5.5 %) |
| Gross Income | 98.88 | 85.36 | (13.7 %) |
| Operating Income | 45.26 | 27.00 | (40.3 %) |
| Net Income | 43.24 | 23.98 | (44.5 %) |
| Average Shares | 25.50 | 25.50 | - |
| EPS (Riyals) | 1.70 | 0.94 | (44.5 %) |
On a sequential basis, net profit dropped by 45.3%, impacted by the seasonality factors due to Ramadan.
Total shareholders’ equity, excluding minority interest, stood at SAR 345.991 million by the end of H1 2022, compared to SAR 281.813 million in the year-earlier period.
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