Arabian Centres Co. reported a net profit after Zakat and tax of SAR 126.3 million for the first quarter ended June 30, 2021, a decline of 18% from SAR 153.1 million in the year-earlier period.
The company attributed the profit decline to lower gross profit amid a rise in the cost of revenue. It also cited a drop in other income, as well as higher general and administrative expenses.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 475.85 | 510.68 | 7.3 % |
| Gross Income | 298.65 | 414.33 | 38.7 % |
| Operating Income | 230.77 | 341.13 | 47.8 % |
| Net Income | 152.76 | 126.61 | (17.1 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.32 | 0.27 | (17.1 %) |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 446.25 | 510.68 | 14.4 % |
| Gross Income | 220.77 | 414.33 | 87.7 % |
| Operating Income | 127.01 | 341.13 | 168.6 % |
| Net Income | 129.45 | 126.61 | (2.2 %) |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.27 | 0.27 | (2.2 %) |
When compared to the previous quarter, net profit after Zakat and tax edged down 0.5% from SAR 127 million a year earlier.
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