Financial Results : Shaker reports net profit growth to SAR 14.8 mln in Q1 2022

Shaker reports net profit growth to SAR 14.8 mln in Q1 2022

23/05/2022 Argaam Exclusive

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Al Hassan Ghazi Ibrahim Shaker Co. reported a net profit after Zakat and tax of SAR 14.8 million in Q1 2022, from SAR 9.7 million in a year-earlier period. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 288.30 297.23 3.1 %
Gross Income 57.63 72.37 25.6 %
Operating Income 1.07 16.58 1449.6 %
Net Income 6.32 14.76 133.6 %
Average Shares 55.50 55.50 -
EPS (Riyals) 0.11 0.27 133.6 %

This was driven by a rise of 11% year-on-year (YoY) in revenue. Gross profit jumped by 34.7% YoY.  

 

On a quarterly basis, net earnings surged from SAR 320,000 in Q4 2021, thanks to better revenue and gross profit. The company also cited the impact of Zakat provisions in Q4 2021. 

 

Total shareholders’ equity, excluding minority interest, grew 5.1% YoY to SAR 636.9 million in Q1 2022. 

 

Accumulated losses stood at 21.3% of capital, or SAR 134 million in the three-month period. 

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