Financial Results : Thob Al Aseel Q1 2022 profit rises 36% to SAR 19 mln

Thob Al Aseel Q1 2022 profit rises 36% to SAR 19 mln

24/04/2022 Argaam Exclusive

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Thob Al Aseel Co. posted a net profit after Zakat and tax of SAR 19 million for the first quarter of 2022, a rise of 36% compared with SAR 14 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 138.84 186.30 34.2 %
Gross Income 47.56 63.45 33.4 %
Operating Income 19.16 24.54 28.1 %
Net Income 13.97 18.98 35.8 %
Average Shares 400.00 400.00 -
EPS (Riyals) 0.03 0.05 35.8 %

The profit growth was driven by a 34.19% increase in sales, due to the improved business environment during the current quarter and the rise in the number of Umrah pilgrims coming from outside the Kingdom. This contributed to the gradual recovery of sales in the Western Region.

 

Compared with the previous quarter, Q1 2022 net profit more than doubled from SAR 7.69 million in Q4 2021. 

Total shareholders’ equity, excluding minority interest, reached SAR 568.23 million at the end of the period, compared with SAR 556.51 million a year earlier.  

 

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