Al-Omran net profit down 29% to SAR 6.4 mln in 9M 2022; Q3 at SAR 473,500

03/11/2022 Argaam Exclusive

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Al-Omran Industrial Trading Co. reported a net profit after Zakat and tax of SAR 6.4 million in the first nine months of 2022, a 29% decline compared to SAR 8.9 million in the year-ago period.

The profit decline was attributed to lower sales, higher general and administrative expenses and increased financing costs.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	114.45	105.50	(7.8 %)
Gross Income	26.45	26.56	0.4 %
Operating Income	11.60	10.50	(9.5 %)
Net Income	8.88	6.35	(28.5 %)
Average Shares	10.21	10.21	0.0 %
EPS (Riyals)	0.87	0.62	(28.5 %)

In Q3 2022, net profit after Zakat and tax saw a 71% drop to SAR 473,500 from SAR 1.63 million in the year before.

Sequentially, the company’s net profit fell 87% from SAR 3.62 million in Q2 2022.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	32.60	29.56	(9.3 %)
Gross Income	7.68	7.91	3.0 %
Operating Income	2.58	1.96	(23.9 %)
Net Income	1.63	0.47	(70.9 %)
Average Shares	10.21	10.21	0.0 %
EPS (Riyals)	0.16	0.05	(70.9 %)

Item	Q2 2022	Q3 2022	Change‬
Revenues	34.46	29.56	(14.2 %)
Gross Income	10.24	7.91	(22.8 %)
Operating Income	5.06	1.96	(61.3 %)
Net Income	3.62	0.47	(86.9 %)
Average Shares	10.21	10.21	-
EPS (Riyals)	0.35	0.05	(86.9 %)

Total shareholders’ equity, excluding minority interest, grew to SAR 117.616 million as of Sept. 30, 2022, from SAR 115.909 million in the year-earlier period.

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