Development Works Food turns to profit after minorities of SAR 2 mln; Q4 loss at SAR 1.4 mln

29/03/2022 Argaam Exclusive

Development Works Food Co. turned to a net profit after minorities of SAR 2 million in 2021, compared to a net loss after minorities of SAR 8.3 million in 2020.



Financials (M)

Item 2020 2021 Change‬
Revenues 94.50 100.86 6.7 %
Gross Income 2.62 9.49 261.9 %
Operating Income (5.35) (0.23) 95.7 %
Net Income (8.40) 2.35 128.0 %
Average Shares 3.00 3.00 -
EPS (Riyals) (2.80) 0.78 128.0 %

The profits were driven by the firm’s exit from unprofitable businesses and an increased focus on activities that generate revenue and drive sales.

 

The company’s Q4 2021 net loss narrowed to SAR 1.40 million from SAR 2.99 million in the year-earlier period.

 

Sequentially, Development Works Food turned to losses from a net profit of SAR 770,000 in Q3 2021.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 16.15 23.28 44.2 %
Gross Income 1.62 (2.62) (261.9 %)
Operating Income (0.74) (2.21) (198.8 %)
Net Income (3.05) (1.09) 64.3 %
Average Shares 3.00 3.00 -
EPS (Riyals) (1.02) (0.36) 64.3 %

Total shareholders’ equity, excluding minority interest, rose 6.7% year-on-year to SAR 32.6 million.

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Share Price

Development Works Food Co.
130.80
(2.00) (1.51 %)

Development Works Food Co. (DWF)

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Financial Ratios
Current
Market Cap (M Riyal) 392.40
Enterprise Value (EV) (M) 396.03
Shares Outstanding ((M)) 3.00
EPS ( Riyal) (TTM) 0.04
Book Value (BV) ( Riyal) 9.19
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 14.24
Return on Average Assets (%) (TTM) 0.2
Return on Average Equity (%) (TTM) 0.5
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