Retal Urban Development Co. reported a 62% rise in Q1 2022 net profit after Zakat and tax to SAR 63.4 million, from SAR 39.3 million in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 216.03 | 275.16 | 27.4 % |
| Gross Income | 51.04 | 77.39 | 51.6 % |
| Operating Income | 40.26 | 59.96 | 48.9 % |
| Net Income | 39.26 | 63.44 | 61.6 % |
| Average Shares | 500.00 | 500.00 | - |
| EPS (Riyals) | 0.08 | 0.13 | 61.6 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 471.97 | 275.16 | (41.7 %) |
| Gross Income | 100.35 | 77.39 | (22.9 %) |
| Operating Income | 76.60 | 59.96 | (21.7 %) |
| Net Income | 73.82 | 63.44 | (14.1 %) |
| Average Shares | 500.00 | 500.00 | - |
| EPS (Riyals) | 0.15 | 0.13 | (14.1 %) |
The profit growth was spurred by a 27.37% year-on-year (YoY) rise in revenue. The company’s gross profit climbed 47.92% YoY to SAR 75.5 million, leading gross profit margins to expand to 27.44% in the three-month period from 23.63% in Q1 2021.
Compared to the previous quarter, net profit after Zakat and tax dropped 14.1% from SAR 73.82 million.
Shareholders’ equity, after minority interest, increased by 12.3% to SAR 632.35 million by the end of Q1 2022, from SAR 563.04 million a year earlier.
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