Financial Results : Abo Moati’s net profit falls 19% to SAR 14.8 mln in FY19/20

Abo Moati’s net profit falls 19% to SAR 14.8 mln in FY19/20

29/06/2020 Argaam Exclusive

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Abdulla Saad Abo Mohammed Abo Moati for Bookstores Co. posted a drop of 18.8% in net profit after Zakat and tax to SAR 14.8 million for the fiscal year ended March 31, 2020, compared to net profit of SAR 18.2 million a year earlier.

 

The profit decline was attributed to lower ink sales, as well as the closure of retail and wholesale stores since March 16 due to the COVID-19 outbreak.

 

The company incurred higher operating expenses due to opening new retail branches, and reported a drop in other income and leasing returns.



Financials (M)

Item 2018 2019 Change‬
Revenues 316.86 297.07 (6.2 %)
Gross Income 61.63 60.17 (2.4 %)
Operating Income 24.11 19.66 (18.5 %)
Net Income 18.21 13.88 (23.8 %)
Average Shares 20.00 20.00 -
EPS (Riyals) 0.91 0.69 (23.8 %)

The fourth quarter net profit dipped 19% YoY to SAR 3.8 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 77.18 75.53 (2.1 %)
Gross Income 16.76 15.92 (5.0 %)
Operating Income 6.39 4.68 (26.7 %)
Net Income 4.62 3.75 (18.7 %)
Average Shares 20.00 20.00 -
EPS (Riyals) 0.23 0.19 (18.7 %)

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