Abo Moati profit rises to SAR 14.4 mln in 9M 2021/22; Q3 earnings at SAR 7.2 mln

07/02/2022 Argaam Exclusive

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Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati) reported a net profit after Zakat and tax of SAR 14.4 million for the nine months period ended Dec. 31, 2021, compared to SAR 4.5 million in the same period last year.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	164.81	208.79	26.7 %
Gross Income	34.19	47.45	38.8 %
Operating Income	7.42	16.86	127.3 %
Net Income	4.50	14.42	220.6 %
Average Shares	20.00	20.00	-
EPS (Riyals)	0.22	0.72	220.6 %

The profit surge was driven by a 32.27% year-on-year (YoY) climb in sales due to the return of commercial activities to normal. In addition, the company reported a decrease in financing expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	68.39	90.46	32.3 %
Gross Income	13.89	19.37	39.4 %
Operating Income	4.21	8.18	94.2 %
Net Income	3.00	7.20	140.4 %
Average Shares	20.00	20.00	-
EPS (Riyals)	0.15	0.36	140.4 %

Item	Q2 2021	Q3 2021	Change‬
Revenues	72.95	90.46	24.0 %
Gross Income	17.59	19.37	10.1 %
Operating Income	6.68	8.18	22.4 %
Net Income	5.31	7.20	35.5 %
Average Shares	20.00	20.00	-
EPS (Riyals)	0.27	0.36	35.5 %

Abo Moati reported a net profit of SAR 7.2 million in Q3 ending Dec. 31, 2021, a 140% gain from SAR 3 million in the same quarter last year on higher sales.

On a sequential basis, net profit grew 35.5% from SAR 5.31 million in Q2 2021/22.

Total shareholders’ equity, excluding minority interest, reached SAR 237.6 million at the end of Dec. 31, 2021, compared to SAR 232 million in the same period last year.

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