Farm Superstores H1 2022 profit up 32% to SAR 11.6 mln, Q2 at SAR 5.4 mln

24/08/2022 Argaam Exclusive

View other reports

Saudi Marketing Co. (Farm Superstores) reported a rise of 32% in H1 2022 net profit after Zakat and tax to SAR 11.6 million, from SAR 8.8 million in the year-earlier period.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	834.50	891.20	6.8 %
Gross Income	236.93	249.25	5.2 %
Operating Income	27.15	28.86	6.3 %
Net Income	8.78	11.55	31.6 %
Average Shares	45.00	45.00	-
EPS (Riyals)	0.20	0.26	31.6 %

The company reported an increase of SAR 56.7 million year-on-year (YoY) in revenue, backed by higher retail revenue during the six-month period.

Revenue from the high-margin entertainment segment also went up, despite an increase of SAR 7.6 million YoY in selling and distribution expenses.

On the other hand, selling and distribution expenses for the current period increased by SAR 10.9 million YoY.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2021	Q2 2022	Change‬
Revenues	417.05	452.41	8.5 %
Gross Income	119.47	127.89	7.1 %
Operating Income	14.38	15.54	8.1 %
Net Income	4.52	5.38	19.1 %
Average Shares	45.00	45.00	-
EPS (Riyals)	0.10	0.12	19.1 %

Item	Q1 2022	Q2 2022	Change‬
Revenues	438.79	452.41	3.1 %
Gross Income	121.36	127.89	5.4 %
Operating Income	13.31	15.54	16.8 %
Net Income	6.17	5.38	(12.8 %)
Average Shares	45.00	45.00	-
EPS (Riyals)	0.14	0.12	(12.8 %)

In Q2 2022, the company’s net profit after Zakat and tax jumped 19% to SAR 5.4 million, from SAR 4.5 million in Q2 2021.

Farm Superstores’ net profit was down 12.8% from SAR 6.17 million in Q1 2022.

Total shareholders’ equity, after minority interest, rose to SAR 646.399 million by the end of the six-month period, from SAR 623.695 million a year earlier.

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.

×