Thob Al-Aseel Co. reported a net profit after Zakat and tax of SAR 52 million for the first nine months of 2021, a decline of 31% from SAR 75.8 million in the year-ago period, driven by lower sales and higher selling and marketing expenses.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 421.38 | 390.22 | (7.4 %) |
| Gross Income | 149.41 | 139.23 | (6.8 %) |
| Operating Income | 88.32 | 67.78 | (23.3 %) |
| Net Income | 75.76 | 52.04 | (31.3 %) |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.19 | 0.13 | (31.3 %) |
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 110.08 | 83.33 | (24.3 %) |
| Gross Income | 31.57 | 30.66 | (2.9 %) |
| Operating Income | 10.57 | 8.07 | (23.6 %) |
| Net Income | 5.92 | 3.58 | (39.5 %) |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.01 | 0.01 | (39.5 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 168.06 | 83.33 | (50.4 %) |
| Gross Income | 61.02 | 30.66 | (49.8 %) |
| Operating Income | 40.55 | 8.07 | (80.1 %) |
| Net Income | 34.49 | 3.58 | (89.6 %) |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.09 | 0.01 | (89.6 %) |
The third-quarter net profit fell 40% to SAR 3.6 million from SAR 5.9 million in Q2 2020.
On a sequential basis, net profit dropped 90% from SAR 34.5 million in Q2 2021.
Total shareholders' equity, excluding minority interest, rose 5.3% year-on-year (YoY) to SAR 571.68 million.
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