Zahrat Al Waha 2021 net profit up 59% to SAR 64.6 mln; Q4 earnings at SAR 20.5 mln

28/02/2022 Argaam Exclusive

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Zahrat Al Waha for Trading Co. reported a net profit after Zakat and tax of SAR 64.6 million for 2021, up 59%, from SAR 40.6 million in 2020.

Financials (M)

Item	2020	2021	Change‬
Revenues	424.85	549.01	29.2 %
Gross Income	74.19	87.83	18.4 %
Operating Income	57.71	69.59	20.6 %
Net Income	40.57	64.57	59.2 %
Average Shares	22.50	22.50	-
EPS (Riyals)	1.80	2.87	59.2 %

The company attributed the profit rise to higher sales by SAR 124.16 million and lower selling and distribution expenses

Meanwhile, Zakat and finance costs decreased by 2.69% and 22.97%, respectively.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	91.05	140.80	54.6 %
Gross Income	23.64	29.40	24.4 %
Operating Income	20.10	25.84	28.5 %
Net Income	13.84	20.50	48.1 %
Average Shares	22.50	22.50	-
EPS (Riyals)	0.62	0.91	48.1 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	165.49	140.80	(14.9 %)
Gross Income	16.03	29.40	83.4 %
Operating Income	10.62	25.84	143.2 %
Net Income	7.47	20.50	174.4 %
Average Shares	22.50	22.50	-
EPS (Riyals)	0.33	0.91	174.4 %

The company reported a net profit of SAR 20.5 million for Q4 2021, a 48% year-on-year (YoY) rise.

Shareholders' equity, excluding minority rights, at the end of the period amounted to SAR 301.91 million, compared to SAR 252.34 million at the end of the same period of the previous year.

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