Farm Superstores’ 9M 2021 net profit down 65% to SAR 12.3 mln

11/11/2021 Argaam Exclusive

View other reports

Saudi Marketing Co. (Farm Superstores) reported a net profit after Zakat and tax of SAR 12.3 million for the first nine months of 2021, a decline of 65% from SAR 34.7 million in a prior-year period, on subdued revenue and higher selling, distribution as well as general and administrative expenses, including a depreciation of SAR 14.9 million for the current period.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	1,437.78	1,229.44	(14.5 %)
Gross Income	368.13	357.34	(2.9 %)
Operating Income	63.16	37.42	(40.8 %)
Net Income	34.72	12.28	(64.6 %)
Average Shares	45.00	45.00	-
EPS (Riyals)	0.77	0.27	(64.6 %)

Q3 2021 net profit after Zakat and tax plunged 53% year-on-year (YoY) to SAR 3.5 million, driven by lower revenue, and higher selling, distribution as well as general and administrative expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	409.30	394.94	(3.5 %)
Gross Income	116.73	120.41	3.2 %
Operating Income	16.04	10.27	(36.0 %)
Net Income	7.41	3.50	(52.8 %)
Average Shares	45.00	45.00	-
EPS (Riyals)	0.16	0.08	(52.8 %)

Item	Q2 2021	Q3 2021	Change‬
Revenues	417.05	394.94	(5.3 %)
Gross Income	119.47	120.41	0.8 %
Operating Income	14.38	10.27	(28.6 %)
Net Income	4.52	3.50	(22.6 %)
Average Shares	45.00	45.00	-
EPS (Riyals)	0.10	0.08	(22.6 %)

On a quarterly basis, net earnings fell 22.6%.

Total shareholders’ equity (excluding minority interest) stood at SAR 627.1 million for the nine-month period compared to SAR 661.6 million in the same period last year.

View more financial results

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.

×