Arabian Centres profit slips to SAR 545.8 mln in 9M 2019/20

05/02/2020 Argaam Exclusive

Arabian Centres Co. reported a net profit after zakat and tax of SAR 545.8 million for the 9 months ended Dec. 31, 2019, down by 0.52% year-on-year (YoY), as compared to SAR 548.7 million in the same period in 2018.



Financials (M)

Item 9m 2018 9m 2019 Change‬
Revenues 1,619.99 1,689.17 4.3 %
Gross Income 1,023.27 1,120.83 9.5 %
Operating Income 893.26 979.94 9.7 %
Net Income 538.40 535.95 (0.5 %)
Average Shares 475.00 475.00 -
EPS (Riyals) 1.13 1.13 (0.5 %)

The company said in a bourse statement that the decrease is due to a change in the group’s accounting policy for leases in line with IFRS 16 requirements and a decrease in finance costs.

 

In Q3 2019/2020, net profit after Zakat and tax decreased by 59.9% YoY to SAR 110.6 million on increased interest expense on lease liabilities. Higher finance costs and depreciation of right-of-use assets also weighed on the third quarter results.

 

On a sequential basis, net profit decreased by 46.9%.



Current Quarter Comparison (M)

Compared With The
Item Q3 2018 Q3 2019 Change‬
Revenues 530.11 557.54 5.2 %
Gross Income 340.51 361.73 6.2 %
Operating Income 294.62 314.60 6.8 %
Net Income 272.10 107.89 (60.3 %)
Average Shares 475.00 475.00 -
EPS (Riyals) 0.57 0.23 (60.3 %)

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Share Price

Arabian Centres Co.
19.78
(0.02) (0.10 %)

Arabian Centres Co. (CENOMI CENTERS)

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Financial Ratios
Current
Market Cap (M Riyal) 9,395.50
Enterprise Value (EV) (M) 20,012.08
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) 13.38
P/E (TTM) 6.85
Price/book 0.64
Return on Average Assets (%) (TTM) 4.8
Return on Average Equity (%) (TTM) 9.7
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