Financial Results : Fitaihi net profit dives 94% to SAR 7.7 mln in Q1 2022

Fitaihi net profit dives 94% to SAR 7.7 mln in Q1 2022

19/05/2022 Argaam Exclusive

View other reports

Fitaihi Holding Group reported a plunge of 94% in Q1 2022 net profit after Zakat and tax to SAR 7.7 million from SAR 130 million in the year-ago period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 13.71 23.29 69.9 %
Gross Income 6.09 4.98 (18.2 %)
Operating Income (1.71) (1.39) 18.9 %
Net Income 130.11 7.65 (94.1 %)
Average Shares 275.00 275.00 -
EPS (Riyals) 0.47 0.03 (94.1 %)

The profit slump came as the company recorded exceptional capital gains of SAR 125.7 million from selling its entire stake in an associate.

 

Sequentially, the jewelry retailer turned a profit from a net loss of SAR 4.4 million in Q4 2021.

 

Fitaihi recorded a decline of SAR 17.9 million in inventory impairment during the fourth quarter of 2021. It also reported a 59.9% quarter-on-quarter rise in its profit share from an associate.

 

The company reported a decrease in total selling and administrative expenses in the first quarter of 2022, by 6.71 year-on-year (YoY). It received dividends of SAR 0.9 million and recorded lower Zakat charges in Q1 2022.

 

Shareholders’ equity, after minority interest, fell to SAR 496.080 million as of March 31, 2022, from SAR 753.062 million a year earlier.

View More Financial Results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.