Arabian Food & Dairy Factories Co. (FADECO), which listed on Nomu-Parallel Market recently, posted a net profit of SAR 6 million for 2021, a fall of 36% compared to SAR 9.4 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 53.45 | 52.24 | (2.3 %) |
| Gross Income | 25.01 | 22.04 | (11.9 %) |
| Operating Income | 9.85 | 6.04 | (38.7 %) |
| Net Income | 9.38 | 6.02 | (35.8 %) |
| Average Shares | 1.41 | 1.41 | - |
| EPS (Riyals) | 6.65 | 4.27 | (35.8 %) |
The profit decline was due to a 12% fall in gross income and a 43% drop in operating income, as well as an 8% rise in operating expenses.
This is despite higher other income, as well as lower finance charges and Zakat provision.
Meanwhile, the company incurred a loss of SAR 750,000 in Q4 2021, against a profit of SAR 1.36 million a year earlier.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 8.78 | 8.47 | (3.4 %) |
| Gross Income | 4.93 | 2.36 | (52.2 %) |
| Operating Income | 1.20 | (1.55) | (229.3 %) |
| Net Income | 1.36 | (0.75) | (154.9 %) |
| Average Shares | 1.41 | 1.41 | - |
| EPS (Riyals) | 0.96 | (0.53) | (154.9 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 18.97 | 8.47 | (55.3 %) |
| Gross Income | 8.07 | 2.36 | (70.8 %) |
| Operating Income | 3.54 | (1.55) | (143.8 %) |
| Net Income | 3.28 | (0.75) | (122.7 %) |
| Average Shares | 1.41 | 1.41 | - |
| EPS (Riyals) | 2.33 | (0.53) | (122.7 %) |
Total shareholders’ equity, excluding minority interest, amounted to SAR 28.10 million at the end of the period, compared to SAR 27.55 million a year earlier.
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