Development Works Food Co. (DWF) turned to a net profit after Zakat and tax of SAR 3 million for the first half of 2021, against a net loss of SAR 6 million a year earlier.
The positive results were driven by DWF’s exit from unprofitable business lines and its focus on activities that generate a return. The company also cited lower expenses and controlling operating costs.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 48.68 | 44.42 | (8.8 %) |
| Gross Income | (2.60) | 8.33 | 420.8 % |
| Operating Income | (6.14) | 1.70 | 127.7 % |
| Net Income | (6.02) | 2.67 | 144.3 % |
| Average Shares | 3.00 | 3.00 | - |
| EPS (Riyals) | (2.01) | 0.89 | 144.3 % |
In Q2 2021, DWF reported a net profit after Zakat and tax of SAR 2.9 million.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 22.42 | 24.61 | 9.7 % |
| Gross Income | (0.49) | 6.03 | 1344.1 % |
| Operating Income | (2.17) | 2.56 | 218.3 % |
| Net Income | (2.09) | 2.55 | 221.8 % |
| Average Shares | 3.00 | 3.00 | - |
| EPS (Riyals) | (0.70) | 0.85 | 221.8 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 19.81 | 24.61 | 24.2 % |
| Gross Income | 2.30 | 6.03 | 162.6 % |
| Operating Income | (0.86) | 2.56 | 396.8 % |
| Net Income | 0.12 | 2.55 | 2058.5 % |
| Average Shares | 3.00 | 3.00 | - |
| EPS (Riyals) | 0.04 | 0.85 | 2058.5 % |
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