Financial Results : Burgerizzr net profit down 19% to SAR 15.4 mln in 2021

Burgerizzr net profit down 19% to SAR 15.4 mln in 2021

30/03/2022 Argaam Exclusive

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Shatirah House Restaurant Co. (Burgerizzr) reported a net profit after Zakat and tax of SAR 15.4 million in 2021, a decline of 19% from SAR 19 million a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 195.83 234.78 19.9 %
Gross Income 51.06 70.08 37.3 %
Operating Income 21.80 17.75 (18.6 %)
Net Income 19.00 15.37 (19.1 %)
Average Shares 35.00 35.00 -
EPS (Riyals) 0.54 0.44 (19.1 %)

This profit drop was driven by SAR 4.6 million rise in selling expenses, and an increase of SAR 4.5 million in administrative expenses.

 

Additionally, the company cost of finance jumped by SAR 139,800 during the same period.



Total shareholders’ equity increased 14.88% to SAR 54.741 million in 2021, from SAR 47.650 million in 2020.

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