Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati) reported a net profit after Zakat and tax of SAR 4.5 million for the nine months period ended Dec. 31, 2020, 56% year-on-year (YoY) decline, from compared to SAR 10.1 million in the same period last year.
The fall in net profit was attributed to 25.6% decline in sales due to the decisions issued by the competent authorities within the precautionary measures and decisions to convert the study pattern to distance education to mitigate the spread of the COVID-19. In addition, the company paid customs differences pertaining to previous years amounting to SAR 2.5 million.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 221.55 | 164.81 | (25.6 %) |
| Gross Income | 44.25 | 34.19 | (22.7 %) |
| Operating Income | 14.98 | 7.42 | (50.5 %) |
| Net Income | 10.12 | 4.50 | (55.6 %) |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | 0.51 | 0.22 | (55.6 %) |
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 84.59 | 68.39 | (19.2 %) |
| Gross Income | 17.29 | 13.89 | (19.6 %) |
| Operating Income | 5.86 | 4.21 | (28.2 %) |
| Net Income | 4.78 | 3.00 | (37.3 %) |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | 0.24 | 0.15 | (37.3 %) |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 60.26 | 68.39 | 13.5 % |
| Gross Income | 12.40 | 13.89 | 12.1 % |
| Operating Income | 1.88 | 4.21 | 123.9 % |
| Net Income | 3.30 | 3.00 | (9.3 %) |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | 0.17 | 0.15 | (9.3 %) |
The company reported a net profit of SAR 3 million in Q3 ending Dec. 31, 2020, a 37% YoY decline, from SAR 4.8 million in the same quarter last year on lower sales.
When compared to previous quarter, net profit almost quadrupled due to higher sales as a result of returning to normal activities after the curfew period during the first quarter.
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