Financial Results : Farm Superstores swings to SAR 8.1 mln profit in Q1 2020

Farm Superstores swings to SAR 8.1 mln profit in Q1 2020

14/06/2020 Argaam Exclusive

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Saudi Marketing Company (Farm Superstores) reported net profit after Zakat and tax of SAR 8.1 million for the first quarter of 2020, versus net loss of SAR 2.6 million in a year-earlier period, driven by a SAR 72.7 million revenue increase YoY, and a slump of SAR 5.6 million in selling, distribution, general and administrative expenses.

 

On a sequential basis, net profit jumped 78.59%, due to lower gross profit and decreased operating earnings.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 389.42 462.08 18.7 %
Gross Income 116.62 119.36 2.4 %
Operating Income 10.72 19.09 78.1 %
Net Income (2.60) 8.12 412.1 %
Average Shares 45.00 45.00 -
EPS (Riyals) (0.06) 0.18 412.1 %

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