Development Works Food Co. swung to a net profit after Zakat and tax of SAR 3.8 million for the nine-month period ended Sept. 30, 2021, against a net loss of SAR 5.3 million in the year-earlier period.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 78.36 | 77.58 | (1.0 %) |
| Gross Income | 1.00 | 12.10 | 1106.8 % |
| Operating Income | (4.61) | 1.98 | 143.0 % |
| Net Income | (5.36) | 3.44 | 164.1 % |
| Average Shares | 3.00 | 3.00 | - |
| EPS (Riyals) | (1.79) | 1.15 | 164.1 % |
In Q3 2021, net profit after Zakat and tax jumped 18% to SAR 778,159, thanks to improved sales and DWF’s focus on return-generating activities
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 29.68 | 33.16 | 11.8 % |
| Gross Income | 3.60 | 3.77 | 4.8 % |
| Operating Income | 1.53 | 0.28 | (81.4 %) |
| Net Income | 0.66 | 0.77 | 16.5 % |
| Average Shares | 3.00 | 3.00 | - |
| EPS (Riyals) | 0.22 | 0.26 | 16.5 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 24.61 | 33.16 | 34.8 % |
| Gross Income | 6.03 | 3.77 | (37.5 %) |
| Operating Income | 2.56 | 0.28 | (88.9 %) |
| Net Income | 2.55 | 0.77 | (69.8 %) |
| Average Shares | 3.00 | 3.00 | - |
| EPS (Riyals) | 0.85 | 0.26 | (69.8 %) |
On a sequential basis, Q3 net profit plunged 73% from SAR 2.8 million.
Shareholders’ equity, after minority interest, rose by 2.15% to SAR 33.24 million in the nine-month period, from SAR 32.88 million a year earlier.
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