Financial Results : Arabian Centres net profit down 18% to SAR 126.3 mln in Q1 2021/22

Arabian Centres net profit down 18% to SAR 126.3 mln in Q1 2021/22

19/08/2021 Argaam Exclusive

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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.



Current Quarter Comparison (M)

Compared With The
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 %)

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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