Cenomi Retail profit rises 15% to SAR 94.6 mln in short FY from April to December 2022

30/03/2023 Argaam Exclusive

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Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) posted a net profit of SAR 94.6 million for the short fiscal year from April 1 to December 2022, a rise of 15% from SAR 82.6 million a year earlier.

Financials (M)

Item	2021	2022	Change‬
Revenues	5,915.10	5,525.34	(6.6 %)
Gross Income	990.80	845.27	(14.7 %)
Operating Income	321.15	292.90	(8.8 %)
Net Income	44.69	39.39	(11.9 %)
Average Shares	114.77	114.77	-
EPS (Riyals)	0.39	0.34	(11.9 %)

Revenue was relatively unchanged at SAR 4.54 million in 2022, with the international portfolio exhibiting an improvement of 13.4% year-on-year (YoY). Meanwhile, retail revenues from Saudi Arabia declined by 2.2% YoY, and the food and beverages segment recorded a decline of 4.5% YoY.

Gross profit fell 12.3% YoY to SAR 709.6 million. Selling, general and administrative expenses decreased 19.7% YoY to SAR 326.2 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Average Shares	114.77	114.77	-

Item	Q3 2022	Q4 2022	Change‬
Revenues	1,372.88	1,060.10	(22.8 %)
Gross Income	182.23	241.64	32.6 %
Operating Income	31.01	132.97	328.8 %
Net Income	19.83	17.52	(11.7 %)
Average Shares	114.77	114.77	-
EPS (Riyals)	0.17	0.15	(11.7 %)

Total shareholders’ equity, after minority interest, reached SAR 281.3 million by the end of 2022, compared to SAR 550.1 million a year earlier.

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