Al Jouf Agricultural 2022 profit rises to SAR 51 mln; Q4 at SAR 9 mln

05/03/2023 Argaam Exclusive

Al Jouf Agricultural Development Co. posted an over twofold increase in its 2022 net profit to SAR 51 million, compared to SAR 17.4 million in 2021.



Financials (M)

Item 2021 2022 Change‬
Revenues 312.66 342.00 9.4 %
Gross Income 68.50 120.29 75.6 %
Operating Income 19.84 56.70 185.8 %
Net Income 17.37 51.07 193.9 %
Average Shares 30.00 30.00 -
EPS (Riyals) 0.58 1.70 193.9 %

The profit rise was driven by sales, which grew by SAR 29 million during the current period.

 

Further, the cost of some products decreased, leading to an improvement in profit margins and operating profits.

 

On the other hand. general and administrative expenses, selling and distribution costs as well as Zakat charges increased.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 95.79 82.21 (14.2 %)
Gross Income 20.34 24.27 19.3 %
Operating Income 7.23 9.82 35.8 %
Net Income 6.77 9.17 35.3 %
Average Shares 30.00 30.00 -
EPS (Riyals) 0.23 0.31 35.3 %

The fourth-quarter net profit also climbed 35% to SAR 9 million, from SAR 6.77 million in Q4 2021.

 

Compared to Q3 2022, net profit fell 53.8% from SAR 19.84 million.

 

Total shareholders’ equity, no minority interest, increased to SAR 667.53 million as of Dec. 31, 2022, compared to SAR 627.6 million a year earlier.

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Share Price

Al-Jouf Agricultural Development Co.
61.70
(0.20) (0.32 %)

Al-Jouf Agricultural Development Co. (ALJOUF)

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Financial Ratios
Current
Market Cap (M Riyal) 1,851.00
Enterprise Value (EV) (M) 2,091.77
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 2.79
Book Value (BV) ( Riyal) 24.94
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 24.81
P/E (TTM) 22.14
Price/book 2.47
Return on Average Assets (%) (TTM) 7.3
Return on Average Equity (%) (TTM) 11.6
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