Financial Results : Equipment House net profit down 10% to SAR 16.8 mln in Q1 2022

Equipment House net profit down 10% to SAR 16.8 mln in Q1 2022

24/05/2022 Argaam Exclusive

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Scientific & Medical Equipment House Co. (Equipment House) reported a net profit after Zakat and tax of SAR 16.8 million in Q1 2022, a decline of 10% from SAR 18.7 million in a year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 151.56 162.56 7.3 %
Gross Income 32.66 37.92 16.1 %
Operating Income 19.39 21.84 12.7 %
Net Income 19.19 16.73 (12.8 %)
Average Shares 30.00 30.00 -
EPS (Riyals) 0.64 0.56 (12.8 %)

This was driven by higher direct, general and administrative costs due to the establishment of a new subsidiary at the end of 2021, in addition to the increase in the financing and Zakat expenses. 

 

On a sequential basis, net earnings dropped 8.2%.  

 

Total shareholders’ equity, excluding minority interest, increased 17.4% year-on-year to SAR 490.2 million as of March 31, 2022.

 

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