Herfy Food Services Co. (Herfy Food) posted an estimated net profit after Zakat and tax of SAR 161.7 million for 2021, a rise of over threefold from SAR 52.8 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 1,076.08 | 1,319.09 | 22.6 % |
| Gross Income | 264.27 | 417.83 | 58.1 % |
| Operating Income | 89.10 | 182.62 | 105.0 % |
| Net Income | 52.84 | 151.79 | 187.3 % |
| Average Shares | 64.68 | 64.68 | - |
| EPS (Riyals) | 0.82 | 2.35 | 187.3 % |
The rise was fueled by a 22% year-on-year (YoY) increase in sales, along with lower general and administrative expenses, as well as finance costs. This came despite a decrease in other Income, and higher selling and marketing expenses.
In Q4 2021, Herfy reported a net profit after Zakat and tax of SAR 49.5 million, compared to SAR 20.6 million in the year-ago period.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 297.94 | 334.39 | 12.2 % |
| Gross Income | 76.48 | 138.50 | 81.1 % |
| Operating Income | 32.79 | 55.48 | 69.2 % |
| Net Income | 20.57 | 39.59 | 92.5 % |
| Average Shares | 64.68 | 64.68 | - |
| EPS (Riyals) | 0.32 | 0.61 | 92.5 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 352.22 | 334.39 | (5.1 %) |
| Gross Income | 116.30 | 138.50 | 19.1 % |
| Operating Income | 64.41 | 55.48 | (13.9 %) |
| Net Income | 60.06 | 39.59 | (34.1 %) |
| Average Shares | 64.68 | 64.68 | - |
| EPS (Riyals) | 0.93 | 0.61 | (34.1 %) |
Total shareholders’ equity, after minority interest, grew by 10.16% to SAR 1.056 billion in 2021, from SAR 959.40 million in 2020.
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