Saudi Marketing Co. (Farm Superstores) reported a net profit after Zakat and tax of SAR 4.3 million in Q1 2021, a drop of 48% from SAR 8.1 million in the year-earlier period.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 462.08 | 417.46 | (9.7 %) |
| Gross Income | 119.36 | 117.47 | (1.6 %) |
| Operating Income | 19.09 | 12.77 | (33.1 %) |
| Net Income | 8.12 | 4.26 | (47.5 %) |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.18 | 0.09 | (47.5 %) |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 425.50 | 417.46 | (1.9 %) |
| Gross Income | 113.07 | 117.47 | 3.9 % |
| Operating Income | 11.78 | 12.77 | 8.5 % |
| Net Income | 4.05 | 4.26 | 5.3 % |
| Average Shares | 45.00 | 45.00 | - |
| EPS (Riyals) | 0.09 | 0.09 | 5.3 % |
The decline in the net profit was attributed to lower revenues, along with higher selling, distribution, general and administrative expenses.
When compared to the previous quarter, Q1 2021 net profit after Zakat and tax rose 5.3%.
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