Farm Superstores' net profit surges to SAR 27.3 mln in H1 2020

18/08/2020 Argaam Exclusive

View other reports

Saudi Marketing Co. (Farm Superstores) reported net profit after Zakat and tax of SAR 27.3 million for the first half of 2020, compared to SAR 1.2 million in a year-earlier period, driven by strong demand for the food products during the lockdown period and lower selling, administrative and general expenses.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	791.93	1,028.48	29.9 %
Gross Income	232.13	251.40	8.3 %
Operating Income	23.23	47.12	102.8 %
Net Income	1.17	27.31	2226.0 %
Average Shares	45.00	45.00	-
EPS (Riyals)	0.03	0.61	2226.0 %

Net profit after Zakat and tax for the second quarter rose more than five-fold YoY to SAR 19.2 million, due to higher revenue on strong demand for food products during the lockdown period.

On a quarter-on-quarter basis, the profit for the current quarter more than doubled.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	402.51	566.40	40.7 %
Gross Income	115.51	132.04	14.3 %
Operating Income	12.51	28.03	124.0 %
Net Income	3.78	19.19	408.3 %
Average Shares	45.00	45.00	-
EPS (Riyals)	0.08	0.43	408.3 %

Item	Q1 2020	Q2 2020	Change‬
Revenues	462.08	566.40	22.6 %
Gross Income	119.36	132.04	10.6 %
Operating Income	19.09	28.03	46.9 %
Net Income	8.12	19.19	136.4 %
Average Shares	45.00	45.00	-
EPS (Riyals)	0.18	0.43	136.4 %

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×