Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati) reported a net profit after Zakat and tax of SAR 1.9 million for the first quarter ending June 2021, compared to a net loss of SAR 1.8 million in the same period last year.
The profit hike was attributed to a 25.5% increase year-on-year (YoY) in sales due to the return of normal commercial activities in the current quarter. In addition, the company reported higher rental income and a decline in operating and financing expenses YoY.
When compared to Q4 2020/2021, net profit surged 130% from SAR 830,000, despite sales falling 31.62% quarter-on-quarter due to lower operating expenses.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 36.16 | 45.38 | 25.5 % |
| Gross Income | 7.90 | 10.49 | 32.8 % |
| Operating Income | 1.32 | 2.00 | 50.8 % |
| Net Income | (1.80) | 1.91 | 206.1 % |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | (0.09) | 0.10 | 206.1 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 65.21 | 45.38 | (30.4 %) |
| Gross Income | 12.91 | 10.49 | (18.8 %) |
| Operating Income | (1.78) | 2.00 | 211.9 % |
| Net Income | 0.84 | 1.91 | 128.7 % |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | 0.04 | 0.10 | 128.7 % |
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