Abo Moati H1 2024/25 net profit dips to SAR 12.6M; Q2 at SAR 10.7M

06/11/2024 Argaam Exclusive

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Abdullah Saad Mohammed Abo Moati for Bookstores Co. reported a net profit of SAR 12.6 million for the six-month period ended Sept. 30, 2024, compared to SAR 15.7 million in the year-earlier period. This was driven by a 2.01% slump in sales revenue, lower retail sales, higher general and administrative expenses (G&As) and increased financing cost (FC).

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	138.94	136.15	(2.0 %)
Gross Income	39.97	40.60	1.6 %
Operating Income	17.47	15.82	(9.4 %)
Net Income	15.74	12.61	(19.9 %)
Average Shares	20.00	20.00	-
EPS (Riyals)	0.79	0.63	(19.9 %)

Q2 2024/25 net profit stood at SAR 10.7 million, a decline of 18% year-on-year (YoY) from SAR 13.05 million, on a 1.59% drop in sales revenue, higher G&As, and increased FC.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2023	Q2 2024	Change‬
Revenues	89.06	87.63	(1.6 %)
Gross Income	26.26	26.10	(0.6 %)
Operating Income	14.09	13.06	(7.3 %)
Net Income	13.05	10.65	(18.4 %)
Average Shares	20.00	20.00	-
EPS (Riyals)	0.65	0.53	(18.4 %)

Item	Q1 2024	Q2 2024	Change‬
Revenues	48.53	87.63	80.6 %
Gross Income	14.49	26.10	80.2 %
Operating Income	2.76	13.06	373.2 %
Net Income	1.96	10.65	443.8 %
Average Shares	20.00	20.00	-
EPS (Riyals)	0.10	0.53	443.8 %

On a sequential basis, net earnings soared from SAR 1.96 million in Q1 2024/25.

Total shareholders’ equity (no minority equity) stood at SAR 241.06 million by Sept. 30, 2024, compared to SAR 237.8 million a year earlier.

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