Arabian Centres Co. (ACC) posted a 10% drop in net profit after Zakat and tax to SAR 437 million for the fiscal year ended March 2022, compared to SAR 486.7 million a year earlier.
Item | 2020 | 2021 | Change |
---|---|---|---|
Revenues | 1,856.36 | 2,037.49 | 9.8 % |
Gross Income | 1,023.14 | 1,678.04 | 64.0 % |
Operating Income | 673.01 | 1,347.94 | 100.3 % |
Net Income | 486.66 | 775.43 | 59.3 % |
Average Shares | 475.00 | 475.00 | - |
EPS (Riyals) | 1.02 | 1.63 | 59.3 % |
The company reported an 8.7% increase year-on-year (YoY) in direct costs to SAR 342.8 million in the current fiscal year. ACC’s other income fell by 81.2% YoY to SAR 27.4 million.
Administrative and promotion expenses jumped by 25.5% YoY to SAR 25.4 million, with general and administrative expenses (G&A) rising 29.7% YoY to SAR 248.3 million for the same period.
ACC also reported a decline in its profit share from an equity-accounted investee, which incurred a loss of SAR 15 million in FY2021/22 against a profit of SAR 1.7 million for the fiscal year ended March 2021.
Item | Q4 2020 | Q4 2021 | Change |
---|---|---|---|
Revenues | 446.25 | - | - |
Gross Income | 220.77 | - | - |
Operating Income | 127.01 | - | - |
Net Income | 129.45 | - | - |
Average Shares | 475.00 | - | - |
EPS (Riyals) | 0.27 | - | - |
Item | Q3 2021 | Q4 2021 | Change |
---|---|---|---|
Revenues | 510.60 | - | - |
Gross Income | 410.90 | - | - |
Operating Income | 308.28 | - | - |
Net Income | 382.08 | - | - |
Average Shares | 475.00 | - | - |
EPS (Riyals) | 0.80 | - | - |
The fourth-quarter net profit after Zakat and tax fell 17% to SAR 106.88 million, from SAR 129.45 million in the year-ago period.
Shareholders’ equity, after minority interest, decreased by 4.5% to SAR 5.780 billion as of March 31, 2022, compared to SAR 6.052 billion a year earlier.
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