Financial Results : Arabian Centres posts 10% decline in FY2021/22 net profit to SAR 437 mln; Q4 at SAR 106.9 mln

Arabian Centres posts 10% decline in FY2021/22 net profit to SAR 437 mln; Q4 at SAR 106.9 mln

29/06/2022 Argaam Exclusive

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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. 



Financials (M)

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. 

 


Current Quarter Comparison (M)

Compared With The
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 - -

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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