Fesh Fash’s net profit rises 10% to SAR 2.3 mln in H1 2022

06/09/2022 Argaam Exclusive

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Fesh Fash Snack Food Production Co. reported a net profit after Zakat and tax of SAR 2.3 million in H1 2022, an increase of 10%, from SAR 2.1 million in a year-earlier period.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	14.13	15.71	11.2 %
Gross Income	5.00	4.71	(5.8 %)
Operating Income	2.18	2.32	6.8 %
Net Income	2.05	2.26	10.1 %
Average Shares	11.30	11.30	-
EPS (Riyals)	0.18	0.20	10.1 %

This earnings growth was fueled by a 19.15% drop year-on-year (YoY) in general and administrative expenses (G&As), 10.91% lower YoY sales and marketing expenses, a 6.27% YoY slump in operating costs and higher selling prices.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2021	H1 2022	Change‬
Revenues	14.13	15.71	11.2 %
Gross Income	5.00	4.71	(5.8 %)
Operating Income	2.18	2.32	6.8 %
Net Income	2.05	2.26	10.1 %
Average Shares	11.30	11.30	-
EPS (Riyals)	0.18	0.20	10.1 %

Item	H2 2021	H1 2022	Change‬
Revenues	15.69	15.71	0.2 %
Gross Income	3.78	4.71	24.6 %
Operating Income	(0.61)	2.32	481.1 %
Net Income	(0.65)	2.26	447.8 %
Average Shares	11.30	11.30	-
EPS (Riyals)	(0.06)	0.20	447.8 %

Total shareholders’ equity, excluding minority interest, stood at SAR 15.136 million by the end of H1 2022, compared to SAR 14.664 million in a year-earlier period.

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