Fawaz Alhokair's net profit down 17% in 9M 2019/2020

11/02/2020 Argaam Exclusive

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Fawaz Abdulaziz Alhokair Co.’s net profit after zakat and tax edged down 16.7% year-on-year (YoY) to SAR 234.3 million in the nine-month period ending on Dec. 31, 2019.

This profit decline was driven by a 2% drop in revenue and a hike of 194% in depreciation and amortization expenses.

Financials (M)

Item	9m 2018	9m 2019	Change‬
Revenues	4,353.23	4,256.76	(2.2 %)
Gross Income	1,049.93	949.04	(9.6 %)
Operating Income	420.32	507.12	20.7 %
Net Income	285.75	231.31	(19.1 %)
Average Shares	114.77	114.77	-
EPS (Riyals)	2.49	2.02	(19.1 %)

The third-quarter net profit after zakat and tax jumped 40.07% YoY to SAR 36 million on higher revenue, together with the implementation of a portfolio optimization strategy.

On a quarterly basis, Alhokair incurred SAR 26.7 million losses in Q2 2019/2020.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2018	Q3 2019	Change‬
Revenues	1,233.53	1,289.78	4.6 %
Gross Income	276.69	258.24	(6.7 %)
Operating Income	60.95	102.14	67.6 %
Net Income	26.53	34.47	30.0 %
Average Shares	114.77	114.77	-
EPS (Riyals)	0.23	0.30	30.0 %

Item	Q2 2019	Q3 2019	Change‬
Revenues	1,234.59	1,289.78	4.5 %
Gross Income	183.28	258.24	40.9 %
Operating Income	43.84	102.14	133.0 %
Net Income	(27.22)	34.47	226.7 %
Average Shares	114.77	114.77	-
EPS (Riyals)	(0.24)	0.30	226.7 %

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