Financial Results : Al Othaim posts 46% profit jump in Q1 2020

Al Othaim posts 46% profit jump in Q1 2020

06/05/2020 Argaam Exclusive

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Abdullah Al Othaim Markets Co. reported a net profit after Zakat and tax of SAR 99.6 million for the first quarter of 2020, a 45.69% increase year-on-year (YoY), driven by a 21.4% rise in sales revenue, strong demand for groceries amid the Kingdom's precautionary measures to curb the pandemic outbreak.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 1,959.32 2,379.50 21.4 %
Gross Income 386.48 459.32 18.8 %
Operating Income 58.11 92.82 59.7 %
Net Income 68.34 99.55 45.7 %
Average Shares 900.00 900.00 -
EPS (Riyals) 0.08 0.11 45.7 %

When compared to the previous quarter, Q1 net profit slumped 30%.

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