Farm Superstores H1 2022 profit up 32% to SAR 11.6 mln, Q2 at SAR 5.4 mln

24/08/2022 Argaam Exclusive

Saudi Marketing Co. (Farm Superstores) reported a rise of 32% in H1 2022 net profit after Zakat and tax to SAR 11.6 million, from SAR 8.8 million in the year-earlier period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 834.50 891.20 6.8 %
Gross Income 236.93 249.25 5.2 %
Operating Income 27.15 28.86 6.3 %
Net Income 8.78 11.55 31.6 %
Average Shares 45.00 45.00 -
EPS (Riyals) 0.20 0.26 31.6 %

The company reported an increase of SAR 56.7 million year-on-year (YoY) in revenue, backed by higher retail revenue during the six-month period.

 

Revenue from the high-margin entertainment segment also went up, despite an increase of SAR 7.6 million YoY in selling and distribution expenses.  

 

On the other hand, selling and distribution expenses for the current period increased by SAR 10.9 million YoY.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 417.05 452.41 8.5 %
Gross Income 119.47 127.89 7.1 %
Operating Income 14.38 15.54 8.1 %
Net Income 4.52 5.38 19.1 %
Average Shares 45.00 45.00 -
EPS (Riyals) 0.10 0.12 19.1 %

In Q2 2022, the company’s net profit after Zakat and tax jumped 19% to SAR 5.4 million, from SAR 4.5 million in Q2 2021.

 

Farm Superstores’ net profit was down 12.8% from SAR 6.17 million in Q1 2022.

 

Total shareholders’ equity, after minority interest, rose to SAR 646.399 million by the end of the six-month period, from SAR 623.695 million a year earlier.

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Share Price

Saudi Marketing Co.
22.26
0.18 0.82 %

Saudi Marketing Co. (FARM SUPERSTORES)

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Financial Ratios
Current
Market Cap (M Riyal) 1,001.70
Enterprise Value (EV) (M) 1,572.04
Shares Outstanding ((M)) 45.00
EPS ( Riyal) (TTM) 0.52
Book Value (BV) ( Riyal) 15.14
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 26.27
P/E (TTM) 42.56
Price/book 1.47
Return on Average Assets (%) (TTM) 1.0
Return on Average Equity (%) (TTM) 3.5
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