Financial Results : Abo Moati profit rises to SAR 4.3 mln in Q1 2022/23

Abo Moati profit rises to SAR 4.3 mln in Q1 2022/23

16/08/2022 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 4.3 million for the first quarter ending June 2022, compared to SAR 1.9 million in the same period last year.

The profit hike was driven by a 38.70% increase in sales came as commercial activities returned to normal levels and in-person classes resumed in schools.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 45.38 62.94 38.7 %
Gross Income 10.49 16.43 56.7 %
Operating Income 2.00 4.66 133.3 %
Net Income 1.91 4.32 125.9 %
Average Shares 20.00 20.00 -
EPS (Riyals) 0.10 0.22 125.9 %

When compared to Q4 2021/2022, net profit surged from SAR 680,000, due to recording an impairment loss of goodwill in the previous quarter, along with an increase in other income due to reversal of provisions.

 

Shareholders’ equity, after minority interest, stood at SAR 240.56 million as of June 30, 2022, compared to SAR 235.73 million a year earlier.

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