Arabian Centres Co. reported a net profit after Zakat and tax of SAR 264.2 million for the six-month period ended Sept. 30, 2020 (H1 2020/21), a 39% decline, compared to SAR 435.1 million in the year-earlier period, as revenues fell year-on-year (YoY) due to restricted activity at shopping centers amid COVID-19 and the government’s efforts to contain the spread of the virus.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 1,131.62 | 940.70 | (16.9 %) |
| Gross Income | 759.10 | 553.42 | (27.1 %) |
| Operating Income | 665.34 | 393.20 | (40.9 %) |
| Net Income | 428.05 | 261.78 | (38.8 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.90 | 0.55 | (38.8 %) |
The company also noted higher advertisement and promotion costs and higher impairment loss on accounts receivable.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 559.12 | 464.84 | (16.9 %) |
| Gross Income | 366.32 | 254.77 | (30.5 %) |
| Operating Income | 322.03 | 162.43 | (49.6 %) |
| Net Income | 205.04 | 109.03 | (46.8 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.43 | 0.23 | (46.8 %) |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 475.85 | 464.84 | (2.3 %) |
| Gross Income | 298.65 | 254.77 | (14.7 %) |
| Operating Income | 230.77 | 162.43 | (29.6 %) |
| Net Income | 152.76 | 109.03 | (28.6 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.32 | 0.23 | (28.6 %) |
The Q2 2020/21 net profit after Zakat and tax stood at SAR 111.1 million, down 47% YoY.
On a sequential basis, Q2 profit fell 27.4%.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}