Financial Results : Abo Moati net profit down 27% to SAR 2M in Q1 2024/25

Abo Moati net profit down 27% to SAR 2M in Q1 2024/25

07/08/2024 Argaam Exclusive

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Abdullah Saad Mohammed Abo Moati for Bookstores Co. reported a net profit of SAR 2 million for the first quarter ended June 30, 2024, a decline of 27% compared to SAR 2.7 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 49.89 48.53 (2.7 %)
Gross Income 13.71 14.49 5.7 %
Operating Income 2.50 2.76 10.2 %
Net Income 2.69 1.96 (27.2 %)
Average Shares 20.00 20.00 -
EPS (Riyals) 0.13 0.10 (27.2 %)

Sales decreased year-on-year (YoY) by SAR 1.3 million, or 2.73% due to Eid Al-Fitr and Eid Al-Adha holidays in the quarter.

 

The company also noted higher general, administrative, selling and marketing expenses as well as financing costs YoY.

On a quarterly basis, the company’s profit fell 26% in Q1 2024/25, from SAR 2.65 million.

 

Shareholders’ equity, no minority interest, reached SAR 240.19 million at the end of the three-month period, compared to SAR 245.61 million a year earlier.

 

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