Financial Results : Fawaz Alhokair’s net profit after minorities up 24% to SAR 58 mln in Q1 2022/23

Fawaz Alhokair’s net profit after minorities up 24% to SAR 58 mln in Q1 2022/23

16/08/2022 Argaam Exclusive

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Fawaz Abdulaziz Alhokair Co.’s net profit rose 24% to SAR 58 million in the three-month period ended June 30, 2022, after minority interest, from SAR 46.9 million a year earlier. 

 



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 1,700.71 1,386.73 (18.5 %)
Gross Income 332.60 181.32 (45.5 %)
Operating Income 124.55 59.28 (52.4 %)
Net Income 46.88 (40.79) (187.0 %)
Average Shares 114.77 114.77 -
EPS (Riyals) 0.41 (0.36) (187.0 %)

This was driven by a 9.3% year-on-year (YoY) decline in selling, general and administrative expenses (SG&As), a YoY drop of 37.2% in depreciation and amortization and increased net other operating income. The company also cited a 5.7% lower net financing cost.

Revenues held ground at SAR 1.705 billion, compared to SAR 1.700 billion in the first quarter of the fiscal year.

 

On a sequential basis, the company turned to profit versus a net loss of SAR 40.59 million in the previous quarter.

 

Total shareholders’ equity, after minority interest, stood at SAR 676.4 million by the end of the three-month period, compared to SAR 609.4 million in the year-earlier period.

 

Attached Documents:

 

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