Financial Results : BinDawood Holding net profit up 5% to SAR 65.5 mln in Q1 2022

BinDawood Holding net profit up 5% to SAR 65.5 mln in Q1 2022

23/05/2022 Argaam Exclusive

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BinDawood Holding Co. reported a net profit after Zakat and tax of SAR 65.5 million for Q1 2022, increasing 5% from SAR 62.1 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 1,124.42 1,175.24 4.5 %
Gross Income 373.36 383.67 2.8 %
Operating Income 84.71 70.89 (16.3 %)
Net Income 62.12 65.46 5.4 %
Average Shares 1,143.00 1,143.00 -
EPS (Riyals) 0.05 0.06 5.4 %

The profit increase was driven by a 4.5% rise year-on-year (YoY) in revenue. Moreover, the period included the month of Sha’ban and back-to-school season. 

 

In addition, BinDawood Haramain stores in Makkah and Madinah benefitted from lifting all restrictions on pilgrims performing Umrah. 

 

Sequentially, the company’s net profit surged nearly four-fold from SAR 13.2 million in Q4 2021.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 1.402 billion as of March 31, 2022, down 0.63% from SAR 1.411 billion a year earlier.

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