Fawaz Alhokair turns to profit of SAR 38 mln in FY2021/22, Q4 loss at SAR 44.6 mln

30/06/2022 Argaam Exclusive

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Fawaz Abdulaziz Alhokair Co. turned to a net profit after Zakat and tax of SAR 38 million in the fiscal year ended March 31, 2022, from a net loss of SAR 1.108 billion a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	4,232.51	5,915.10	39.8 %
Gross Income	17.70	990.80	5498.0 %
Operating Income	(721.92)	321.15	144.5 %
Net Income	(1090.75)	44.69	104.1 %
Average Shares	114.77	114.77	-
EPS (Riyals)	(9.50)	0.39	104.1 %

The improved results were mainly driven by higher revenue and gross profit. Net financing costs also declined by 29.3% year-on-year (YoY). On the other hand, selling, general and administrative expenses (SG&A) increased by 11.2% YoY, while net other operating income fell by 15% YoY.

The company incurred a loss of SAR 44.6 million in the fourth quarter, compared to SAR 346.69 million a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	1,132.26	-	-
Gross Income	(270.38)	-	-
Operating Income	(466.45)	-	-
Net Income	(337.87)	-	-
Average Shares	114.77	114.77	-
EPS (Riyals)	(2.94)	-	-

Item	Q3 2021	Q4 2021	Change‬
Revenues	1,466.39	-	-
Gross Income	244.53	-	-
Operating Income	60.17	-	-
Net Income	16.87	-	-
Average Shares	114.77	114.77	-
EPS (Riyals)	0.15	-	-

Total shareholders’ equity, after minority interest, reached SAR 504 million as of March 31, 2022, compared to SAR 451.6 million a year earlier.

Accumulated losses amounted to SAR 982.3 million as of March 31, 2022, accounting for 46.8% of the share capital.

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