Arabian Centres profit drops 24% to SAR 486.7 mln in FY2020/21

22/06/2021 Argaam Exclusive

View other reports

Arabian Centres Co. reported a net profit after Zakat and tax of SAR 486.7 million for the fiscal year ended March 31, 2021, a decline of 24%, compared to SAR 642.6 million in year earlier period.

Financials (M)

Item	2019	2020	Change‬
Revenues	2,197.32	1,856.36	(15.5 %)
Gross Income	1,438.44	1,023.14	(28.9 %)
Operating Income	1,242.82	673.01	(45.8 %)
Net Income	633.93	486.66	(23.2 %)
Average Shares	475.00	475.00	-
EPS (Riyals)	1.33	1.02	(23.2 %)

The company attributed the profit decline to lower revenue and gross profit, higher other income, advertisement and promotion expenses, as well as general and administrative expenses.

Finance cost decreased by 50.8% YoY, while impairment losses on accounts receivable increased by 16% YoY.

In Q4 2020/21, the company’s net profit rose 21% year-on-year (YoY) to SAR 129.5 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	508.15	446.25	(12.2 %)
Gross Income	317.61	220.77	(30.5 %)
Operating Income	262.87	127.01	(51.7 %)
Net Income	97.99	129.45	32.1 %
Average Shares	475.00	475.00	-
EPS (Riyals)	0.21	0.27	32.1 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	469.41	446.25	(4.9 %)
Gross Income	248.94	220.77	(11.3 %)
Operating Income	152.81	127.01	(16.9 %)
Net Income	95.42	129.45	35.7 %
Average Shares	475.00	475.00	-
EPS (Riyals)	0.20	0.27	35.7 %

Funds from operations (FFO) decreased to SAR 825.2 million in FY2020/21, down 14% YoY, mainly due to a decline in net profit for the current year.

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×