Abo Moati net profit down 72% to SAR 1.5 mln in H1 2020/2021

05/11/2020 Argaam Exclusive

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Abdullah Saad Mohammed Abo Moati for Bookstores Co. reported a net profit after Zakat and tax of SAR 1.5 million for the six months ended Sept. 30, 2020, a 72% decline, compared to a profit of SAR 5.4 million in the same period last year.

The company attributed the net profit decline to lower sales as a result of the spread of the Corona pandemic and precautionary measures taken by the government.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	136.95	96.42	(29.6 %)
Gross Income	26.96	20.29	(24.7 %)
Operating Income	9.11	3.21	(64.8 %)
Net Income	5.35	1.50	(71.9 %)
Average Shares	20.00	20.00	-
EPS (Riyals)	0.27	0.08	(71.9 %)

The company reported a net profit of SAR 780,000 for Q2 2020/2021, an 82% year-on-year (YoY), decline.

On a sequential basis, Q2 2020/ 2021 net profit grew 8.3% due to higher sales.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	92.63	60.26	(34.9 %)
Gross Income	17.83	12.40	(30.4 %)
Operating Income	7.11	1.88	(73.5 %)
Net Income	4.36	3.30	(24.2 %)
Average Shares	20.00	20.00	-
EPS (Riyals)	0.22	0.17	(24.2 %)

Item	Q1 2020	Q2 2020	Change‬
Revenues	36.16	60.26	66.7 %
Gross Income	7.90	12.40	57.0 %
Operating Income	1.32	1.88	42.1 %
Net Income	(1.80)	3.30	283.4 %
Average Shares	20.00	20.00	-
EPS (Riyals)	(0.09)	0.17	283.4 %

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