Abo Moati’s net profit 19% down in 9M ended Dec. 31, 2019

04/02/2020 Argaam Exclusive

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Abdullah Saad Mohammed Abo Moati for Bookstores Co. reported a net profit after Zakat and tax of SAR 11.02 million for the nine months ended Dec. 31, 2019, almost a 19% year-on-year (YoY) decrease, the company said in a bourse statement on Tuesday.

Financials (M)

Item	9m 2018	9m 2019	Change‬
Revenues	239.68	221.55	(7.6 %)
Gross Income	44.88	44.25	(1.4 %)
Operating Income	17.73	14.98	(15.5 %)
Net Income	13.60	10.12	(25.6 %)
Average Shares	20.00	20.00	-
EPS (Riyals)	0.68	0.51	(25.6 %)

The drop was attributed to lower sales of ink segment, higher selling and distribution expenses driven by the opening of new branches, in addition to lower other revenue from real estate lease.

The company’s net profit for Q3 2019/2020 fell 22.9% YoY to SAR 4.78 million.

On a sequential basis, Q3 2019/2020 net profit slid by 9.1% on lower sales due to the seasonal demand nature.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2018	Q3 2019	Change‬
Revenues	99.17	84.59	(14.7 %)
Gross Income	17.62	17.29	(1.9 %)
Operating Income	7.47	5.86	(21.5 %)
Net Income	6.19	4.78	(22.9 %)
Average Shares	20.00	20.00	-
EPS (Riyals)	0.31	0.24	(22.9 %)

Item	Q2 2019	Q3 2019	Change‬
Revenues	92.63	84.59	(8.7 %)
Gross Income	17.83	17.29	(3.0 %)
Operating Income	7.11	5.86	(17.5 %)
Net Income	4.36	4.78	9.6 %
Average Shares	20.00	20.00	-
EPS (Riyals)	0.22	0.24	9.6 %

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