Abo Moati net profit surges to SAR 15.1 mln in FY2021/22, Q4 profit at SAR 680,000

29/06/2022 Argaam Exclusive

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Abdullah Saad Mohammed Abo Moati for Bookstores Co.’s (Abo Moati) net profit after Zakat and tax surged 183% to SAR 15.1 for the fiscal year ended March 31, 2022, compared to SAR 5.3 million in the year-earlier period.

Financials (M)

Item	2020	2021	Change‬
Revenues	230.03	282.30	22.7 %
Gross Income	47.10	64.86	37.7 %
Operating Income	5.63	22.52	299.7 %
Net Income	5.33	15.10	183.3 %
Average Shares	20.00	20.00	-
EPS (Riyals)	0.27	0.76	183.3 %

The profit rise was driven by a 22.72% increase year-on-year (YoY) in sales as commercial activities normalized and in-person school attendance resumed for all age groups.

In addition, the company reported a rise in rental income and a decrease in financing expenses YoY.

The company reported a net profit of SAR 680,000 in the fourth quarter, a 91% slump from SAR 7.20 million in the year-earlier period.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	65.21	73.51	12.7 %
Gross Income	12.91	17.41	34.8 %
Operating Income	(1.78)	5.66	417.2 %
Net Income	0.84	0.68	(18.3 %)
Average Shares	20.00	20.00	-
EPS (Riyals)	0.04	0.03	(18.3 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	90.46	73.51	(18.7 %)
Gross Income	19.37	17.41	(10.1 %)
Operating Income	8.18	5.66	(30.8 %)
Net Income	7.20	0.68	(90.5 %)
Average Shares	20.00	20.00	-
EPS (Riyals)	0.36	0.03	(90.5 %)

Total shareholders’ equity, after minority interest, rose 2.2% YoY to SAR 237.70 million as of March 31, 2022.

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