Abo Moati profit rises to SAR 16.9 mln in FY 2022/23; loss of SAR 8.2 mln in Q4

21/06/2023 Argaam Exclusive

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Abdullah Saad Mohammed Abo Moati for Bookstores Co.’s (Abo Moati) net profit edged up to SAR 16.9 million in the fiscal year ended March 31, 2023, from SAR 15.1 million in the previous year.

Financials (M)

Item	2021	2022	Change‬
Revenues	282.30	314.38	11.4 %
Gross Income	64.86	80.41	24.0 %
Operating Income	22.52	30.72	36.4 %
Net Income	15.10	16.92	12.0 %
Average Shares	20.00	20.00	-
EPS (Riyals)	0.76	0.85	12.0 %

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	73.51	63.37	(13.8 %)
Gross Income	17.41	16.81	(3.5 %)
Operating Income	5.66	3.72	(34.3 %)
Net Income	0.68	(8.22)	(1305.8 %)
Average Shares	20.00	20.00	-
EPS (Riyals)	0.03	(0.41)	(1305.8 %)

Item	Q3 2022	Q4 2022	Change‬
Revenues	86.29	63.37	(26.6 %)
Gross Income	20.09	16.81	(16.3 %)
Operating Income	8.35	3.72	(55.5 %)
Net Income	8.02	(8.22)	(202.6 %)
Average Shares	20.00	20.00	-
EPS (Riyals)	0.40	(0.41)	(202.6 %)

The company said sales rose by 11.36% year-on-year (YoY) as commercial activities returned to normal following the end of COVID-19 restrictions and in-person school attendance resumed for all age groups.

The company swung to net loss of SAR 8.2 million in the fourth quarter, compared to a profit of SAR 680,000 in the year-earlier period.

Abo Moati posted a net profit of SAR 8.02 million in Q3 2022/23.

Total shareholder equity, no minority interest, amounted to SAR 242.82 million as of March 31, 2023, compared to SAR 237.70 million a year earlier.

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