Development Works Food reported net profit of SAR 118,000 for Q1 2021, versus net loss of SAR 3.9 million in year-earlier period.
This was driven by the company’s focus on return-generating activities, in addition to lower expenses and controlled operating costs.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 26.26 | 19.81 | (24.6 %) |
| Gross Income | (2.11) | 2.30 | 208.8 % |
| Operating Income | (3.97) | (0.86) | 78.2 % |
| Net Income | (3.92) | 0.12 | 103.0 % |
| Average Shares | 3.00 | 3.00 | - |
| EPS (Riyals) | (1.31) | 0.04 | 103.0 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 16.15 | 19.81 | 22.7 % |
| Gross Income | 1.62 | 2.30 | 42.0 % |
| Operating Income | (0.74) | (0.86) | (16.6 %) |
| Net Income | (3.05) | 0.12 | 103.9 % |
| Average Shares | 3.00 | 3.00 | - |
| EPS (Riyals) | (1.02) | 0.04 | 103.9 % |
On a sequential basis, the company swung to profit against SAR 2.75 million losses in Q4 2020.
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