Al Hassan Ghazi Ibrahim Shaker Co. reported a net profit after Zakat and tax of SAR 14.8 million in Q1 2022, from SAR 9.7 million in a year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 288.30 | 297.23 | 3.1 % |
| Gross Income | 57.63 | 72.37 | 25.6 % |
| Operating Income | 1.07 | 16.58 | 1449.6 % |
| Net Income | 6.32 | 14.76 | 133.6 % |
| Average Shares | 55.50 | 55.50 | - |
| EPS (Riyals) | 0.11 | 0.27 | 133.6 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 165.76 | 297.23 | 79.3 % |
| Gross Income | 39.57 | 72.37 | 82.9 % |
| Operating Income | 4.15 | 16.58 | 299.4 % |
| Net Income | 0.32 | 14.76 | 4556.5 % |
| Average Shares | 55.50 | 55.50 | - |
| EPS (Riyals) | 0.01 | 0.27 | 4556.5 % |
This was driven by a rise of 11% year-on-year (YoY) in revenue. Gross profit jumped by 34.7% YoY.
On a quarterly basis, net earnings surged from SAR 320,000 in Q4 2021, thanks to better revenue and gross profit. The company also cited the impact of Zakat provisions in Q4 2021.
Total shareholders’ equity, excluding minority interest, grew 5.1% YoY to SAR 636.9 million in Q1 2022.
Accumulated losses stood at 21.3% of capital, or SAR 134 million in the three-month period.
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