Farm Superstores’ net profit rises to SAR 10.3 mln in FY2019

31/03/2020 Argaam Exclusive

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Saudi Marketing Co.’s (Farm Superstores) net profit after Zakat and tax almost tripled year-on-year (YoY) to SAR 10.26 million during the fiscal year 2019, the company said in a bourse statement.

Financials (M)

Item	2018	2019	Change‬
Revenues	1,563.91	1,580.93	1.1 %
Gross Income	442.96	474.34	7.1 %
Operating Income	7.22	65.50	807.2 %
Net Income	3.78	10.26	171.3 %
Average Shares	45.00	45.00	-
EPS (Riyals)	0.08	0.23	171.3 %

The increase in net profit was attributed to higher sales, lower selling and distribution expenses, as well as lower general and administrative expenses and amortization.

The company reported a net profit of SAR 4.55 million for Q4 2019 from a net loss of SAR 2.17 million a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	405.90	407.75	0.5 %
Gross Income	124.47	123.37	(0.9 %)
Operating Income	10.15	24.93	145.7 %
Net Income	(2.17)	4.55	309.9 %
Average Shares	45.00	45.00	-
EPS (Riyals)	(0.05)	0.10	309.9 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	381.24	407.75	7.0 %
Gross Income	118.84	123.37	3.8 %
Operating Income	17.34	24.93	43.7 %
Net Income	4.54	4.55	0.1 %
Average Shares	45.00	45.00	-
EPS (Riyals)	0.10	0.10	0.1 %

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