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.
| 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.
| 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.
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