Al Othaim net profit rises 13.9% in FY2019

10/02/2020 Argaam Exclusive

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Abdullah Al Othaim Markets Co. reported a net profit after Zakat and tax of SAR 344.67 million for the fiscal year (FY) 2019, up 13.9% year-on-year (YoY), as compared to SAR 302.6 million in FY2018.

The earnings increase is attributed to an improvement in gross margin and growth in sales by 8.81%, the company said in a bourse statement.

Financials (M)

Item	2018	2019	Change‬
Revenues	7,504.46	8,165.88	8.8 %
Gross Income	1,531.17	1,692.91	10.6 %
Operating Income	247.97	317.03	27.9 %
Net Income	302.60	344.67	13.9 %
Average Shares	900.00	900.00	-
EPS (Riyals)	0.34	0.38	13.9 %

The firm's net profit for Q4 2019 rose 33.02% YoY to SAR 142.23 million due to recognizing a sum of SAR 38.71 million as impairment provision for certain assets and properties.

On a sequential basis, Q4 2019 net profit increased 88.68% from the previous quarter on increase in other operating income.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	1,939.04	2,098.53	8.2 %
Gross Income	474.84	512.27	7.9 %
Operating Income	132.16	143.68	8.7 %
Net Income	106.92	142.23	33.0 %
Average Shares	900.00	900.00	-
EPS (Riyals)	0.12	0.16	33.0 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	1,936.92	2,098.53	8.3 %
Gross Income	400.01	512.27	28.1 %
Operating Income	67.00	143.68	114.5 %
Net Income	75.38	142.23	88.7 %
Average Shares	900.00	900.00	-
EPS (Riyals)	0.08	0.16	88.7 %

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