Maharah’s net profit jumps 18% in 9M 2019
29/10/2019
Argaam Exclusive
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Maharah Human Resources Co. reported a net profit after zakat and tax of SAR 206.1 million for the first nine months of 2019, up 17.7 percent year-on-year (YoY) on higher revenue backed by growth in the corporate and retail segments, as well as increased gross profit.
Financials (M)
| Item | 9m 2018 | 9m 2019 | Change |
|---|---|---|---|
| Revenues | 1,008.80 | 1,126.47 | 11.7 % |
| Gross Income | 222.25 | 272.97 | 22.8 % |
| Operating Income | 174.10 | 218.73 | 25.6 % |
| Net Income | 174.96 | 206.13 | 17.8 % |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.37 | 0.43 | 17.8 % |
The company’s Q3 net profit after zakat and tax rose 15.6 percent YoY to SAR 80.1 million also due to higher revenue and gross profit.
On a sequential basis, net profit climbed 11.2 percent.
Compared With The
Current Quarter Comparison (M)
| Item | Q3 2018 | Q3 2019 | Change |
|---|---|---|---|
| Revenues | 343.90 | 386.37 | 12.3 % |
| Gross Income | 82.49 | 106.27 | 28.8 % |
| Operating Income | 69.59 | 87.11 | 25.2 % |
| Net Income | 69.35 | 80.13 | 15.5 % |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.15 | 0.17 | 15.5 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2019 | 372.88 | 13.9 % | 79.77 | 27.2 % | 60.85 | 41.6 % |
| Q2 2019 | 367.22 | 8.8 % | 86.93 | 12.8 % | 70.77 | 15.0 % |
| Q3 2019 | 386.37 | 12.3 % | 106.27 | 28.8 % | 87.11 | 25.2 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2019 | 54.02 | 12.5 % | 0.11 | - | 54.02 | 0.11 |
| Q2 2019 | 71.99 | 25.0 % | 0.15 | 1.73 | 70.26 | 0.15 |
| Q3 2019 | 80.13 | 15.5 % | 0.17 | - | 80.13 | 0.17 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2019 | 22.57 % | 18.66 % | 16.33 % |
| Q2 2019 | 22.80 % | 19.09 % | 16.88 % |
| Q3 2019 | 23.75 % | 20.01 % | 17.13 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2019 | 475.00 | 0.48 | 0.48 | 1.02 |
| Q2 2019 | 475.00 | 0.51 | 0.51 | 1.17 |
| Q3 2019 | 475.00 | 0.53 | 0.53 | 1.12 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2019 | - | - | - |
| Q2 2019 | 13.45 | 13.54 | 5.89 |
| Q3 2019 | 14.80 | 14.90 | 7.05 |
Business Segments (Million)
Q3 2019
| Period | Corporate | Individuals |
|---|---|---|
| Q1 2019 | 268.44 | 104.44 |
| Q2 2019 | 269.67 | 97.55 |
| Q3 2019 | 283.46 | 102.91 |
Analysts Estimates (Million)
| Item | Q3 2019 (e) | Q3 2019 (a) | Change |
|---|---|---|---|
| Average | 64.00 | 80.13 | 25.20 % |
Estimates vs Actual (Million)
| Item | Q3 2019 (e) | Q3 2019 (a) | Change |
|---|---|---|---|
| OSOOL AND BAKHEET | 64.00 | 80.13 | 25.2 % |
| Current | |
| Market Cap (M Riyal) | 3,116.00 |
| Enterprise Value (EV) (M) | 3,628.95 |
| Shares Outstanding ((M)) | 475.00 |
| EPS ( Riyal) (TTM) | 0.26 |
| Book Value (BV) ( Riyal) | 1.31 |
| Par Value ( Riyal) | 1.00 |
| Adjusted P/E (Last12) | 25.50 |
| P/E (TTM) | 25.50 |
| Price/book | 5.00 |
| Return on Average Assets (%) (TTM) | 6.9 |
| Return on Average Equity (%) (TTM) | 20.5 |
Share Price
Maharah Human Resources Co. (MAHARAH)
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