Nomu-listed Abdulla Saad Abo Moati For Bookstores Co. (Abo Moati) reported a net profit of SAR 13.5 million for the nine-month period ending Dec. 31, 2017, a 7 percent year-on-year (YoY) increase. The rise in net profit was backed by a change in the sales mix with an increased focus on high-margin products, along with higher gross profit and other income.
| Item | 9m 2016 | 9m 2017 | Change |
|---|---|---|---|
| Revenues | 268.29 | 223.92 | (16.5 %) |
| Gross Income | 33.74 | 39.13 | 16.0 % |
| Operating Income | 14.86 | 17.07 | 14.8 % |
| Net Income | 12.59 | 13.46 | 6.9 % |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | 0.63 | 0.67 | 6.9 % |
Net profit for the third quarter declined 6 percent YoY to SAR 7 million on lower sales, a change in the company’s sales mix and halting slow-moving products. The company also cited it adopted a conservative credit policy to reduce risks.
When compared to Q2 2017, net profit jumped 41 percent on a decline in selling, general and administrative expenses along with a rise in other income.
| Item | Q3 2016 | Q3 2017 | Change |
|---|---|---|---|
| Revenues | 101.08 | 96.67 | (4.4 %) |
| Gross Income | 15.77 | 14.86 | (5.8 %) |
| Operating Income | 8.42 | 7.72 | (8.3 %) |
| Net Income | 7.45 | 7.04 | (5.4 %) |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | 0.37 | 0.35 | (5.4 %) |
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2017 | 52.51 | (28.7 %) | 9.15 | 23.4 % | 2.43 | 57.6 % |
| Q2 2017 | 74.75 | (20.2 %) | 15.12 | 43.3 % | 6.91 | 39.5 % |
| Q3 2017 | 96.67 | (4.4 %) | 14.86 | (5.8 %) | 7.72 | (8.3 %) |
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2017 | 1.43 | 18.8 % | 0.07 | - | 1.43 | 0.07 |
| Q2 2017 | 4.99 | 30.6 % | 0.25 | - | 4.99 | 0.25 |
| Q3 2017 | 7.04 | (5.4 %) | 0.35 | - | 7.04 | 0.35 |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2017 | 14.26 % | 7.35 % | 5.48 % |
| Q2 2017 | 16.38 % | 8.31 % | 6.13 % |
| Q3 2017 | 16.32 % | 8.27 % | 6.09 % |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2017 | 20.00 | 0.99 | 0.99 | 10.61 |
| Q2 2017 | 20.00 | 1.05 | 1.05 | 10.87 |
| Q3 2017 | 20.00 | 1.03 | 1.03 | 10.82 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2017 | 13.74 | 13.74 | 1.28 |
| Q2 2017 | 9.99 | 9.99 | 0.96 |
| Q3 2017 | 9.18 | 9.18 | 0.87 |
| Current | |
| Market Cap (M Riyal) | 564.00 |
| Enterprise Value (EV) (M) | 588.42 |
| Shares Outstanding ((M)) | 20.00 |
| EPS ( Riyal) (TTM) | 1.35 |
| Book Value (BV) ( Riyal) | 11.95 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 22.90 |
| P/E (TTM) | 20.94 |
| Price/book | 2.36 |
| Return on Average Assets (%) (TTM) | 8.9 |
| Return on Average Equity (%) (TTM) | 11.2 |
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