Al-Omran’s H1 2022 net profit declines 19% to SAR 5.9 mln; Q2 at SAR 3.6 mln

21/08/2022 Argaam Exclusive

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Al-Omran Industrial Trading Co. reported a net profit after Zakat and tax of SAR 5.9 million in H1 2022, a slump of 19% compared to SAR 7.3 million in the prior-year period.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	81.85	75.94	(7.2 %)
Gross Income	18.77	18.65	(0.6 %)
Operating Income	9.02	8.54	(5.3 %)
Net Income	7.25	5.88	(19.0 %)
Average Shares	10.21	10.21	0.0 %
EPS (Riyals)	0.71	0.58	(19.0 %)

The decline was triggered by lower sales, higher general and administrative expenses, and an increase in financing costs.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2021	Q2 2022	Change‬
Revenues	43.20	34.46	(20.2 %)
Gross Income	9.77	10.24	4.9 %
Operating Income	5.26	5.06	(3.7 %)
Net Income	4.42	3.62	(18.1 %)
Average Shares	10.21	10.21	0.0 %
EPS (Riyals)	0.43	0.35	(18.1 %)

Item	Q1 2022	Q2 2022	Change‬
Revenues	41.48	34.46	(16.9 %)
Gross Income	8.41	10.24	21.9 %
Operating Income	3.48	5.06	45.5 %
Net Income	2.26	3.62	59.9 %
Average Shares	10.21	10.21	-
EPS (Riyals)	0.22	0.35	59.9 %

The company’s Q2 2022 net profit after Zakat and tax dropped 18% to SAR 3.6 million from SAR 4.4 million a year earlier.

On a sequential basis, Q2 net profit rose by 60% from SAR 2.3 million on lower cost of sales.

Total shareholders’ equity, excluding minority interest, stood at SAR 116.689 million by the end of H1 2022, compared to SAR 113.807 million in the year-earlier period.

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