Arabian Centres profit drops 24% to SAR 486.7 mln in FY2020/21

22/06/2021 Argaam Exclusive

Arabian Centres Co. reported a net profit after Zakat and tax of SAR 486.7 million for the fiscal year ended March 31, 2021, a decline of 24%, compared to SAR 642.6 million in year earlier period. 



Financials (M)

Item 2019 2020 Change‬
Revenues 2,197.32 1,856.36 (15.5 %)
Gross Income 1,438.44 1,023.14 (28.9 %)
Operating Income 1,242.82 673.01 (45.8 %)
Net Income 633.93 486.66 (23.2 %)
Average Shares 475.00 475.00 -
EPS (Riyals) 1.33 1.02 (23.2 %)

The company attributed the profit decline to lower revenue and gross profit, higher other income, advertisement and promotion expenses, as well as general and administrative expenses.

 

Finance cost decreased by 50.8% YoY, while impairment losses on accounts receivable increased by 16% YoY.

 

In Q4 2020/21, the company’s net profit rose 21% year-on-year (YoY) to SAR 129.5 million. 



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 508.15 446.25 (12.2 %)
Gross Income 317.61 220.77 (30.5 %)
Operating Income 262.87 127.01 (51.7 %)
Net Income 97.99 129.45 32.1 %
Average Shares 475.00 475.00 -
EPS (Riyals) 0.21 0.27 32.1 %

Funds from operations (FFO) decreased to SAR 825.2 million in FY2020/21, down 14% YoY, mainly due to a decline in net profit for the current year. 

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Share Price

Arabian Centres Co.
21.46
(0.16) (0.74 %)

Arabian Centres Co. (CENOMI CENTERS)

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Financial Ratios
Current
Market Cap (M Riyal) 10,193.50
Enterprise Value (EV) (M) 20,810.08
Shares Outstanding ((M)) 475.00
EPS ( Riyal) (TTM) 2.89
Book Value (BV) ( Riyal) 30.75
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 14.52
P/E (TTM) 7.43
Price/book 0.70
Return on Average Assets (%) (TTM) 4.8
Return on Average Equity (%) (TTM) 9.7
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