Alhasoob’s H1 2022 net profit declines 40% to SAR 3.4 mln

23/08/2022 Argaam Exclusive

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Alhasoob Co. reported a net profit after Zakat and tax of SAR 3.4 million in H1 2022, a slump of 40%, compared to SAR 5.7 million in the prior-year period.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	110.18	99.12	(10.0 %)
Gross Income	10.11	11.06	9.5 %
Operating Income	6.02	4.12	(31.5 %)
Net Income	5.67	3.42	(39.7 %)
Average Shares	2.80	2.80	-
EPS (Riyals)	2.02	1.22	(39.7 %)

This was triggered by a year-on-year (YoY) drop in revenue and exports, amid a YoY rise in selling and administrative expenses.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2021	H1 2022	Change‬
Revenues	110.18	99.12	(10.0 %)
Gross Income	10.11	11.06	9.5 %
Operating Income	6.02	4.12	(31.5 %)
Net Income	5.67	3.42	(39.7 %)
Average Shares	2.80	2.80	-
EPS (Riyals)	2.02	1.22	(39.7 %)

Item	H2 2021	H1 2022	Change‬
Revenues	146.27	99.12	(32.2 %)
Gross Income	13.99	11.06	(20.9 %)
Operating Income	6.79	4.12	(39.3 %)
Net Income	6.28	3.42	(45.6 %)
Average Shares	2.80	2.80	-
EPS (Riyals)	2.24	1.22	(45.6 %)

Total shareholders’ equity, excluding minority interest, stood at SAR 32.479 million by the end of H1 2022, compared to SAR 22.822 million in the year-earlier period.

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