Financial Results : Development Works Food Co.’s net profit down 1% in FY16

Development Works Food Co.’s net profit down 1% in FY16

30/03/2017 Argaam Exclusive

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Development Works for Food Co., a newly-listed company at Nomu, reported a net profit of SAR 5.73 million for fiscal year 2016, down 1 percent year-on-year.



Financials (M)

Item 2015 2016 Change‬
Revenues 34.66 34.93 0.8 %
Gross Income 14.83 7.96 (46.3 %)
Operating Income 5.65 5.33 (5.6 %)
Net Income 5.79 5.30 (8.3 %)
Average Shares 3.00 3.00 -
EPS (Riyals) 1.93 1.77 (8.3 %)

The slight drop is attributed to higher general and administrative expenses, including an increase in a depreciation provision due to the opening of new branches during the year, the company said in a statement.



Current Half Annual Comparison (M)

Compared With The
Item H2 2015 H2 2016 Change‬


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2007 - - - - - -
H2 2007 - - - - - -
H1 2008 - - - - - -
H2 2008 - - - - - -
H1 2009 - - - - - -
H2 2009 - - - - - -
H1 2010 - - - - - -
H2 2010 - - - - - -
H1 2011 - - - - - -
H2 2011 - - - - - -
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 10.18 - 5.22 - 1.65 -
H2 2016 5.19 - (6.82) - (6.82) -
2016 34.93 0.8 % 7.96 (46.3 %) 5.33 (5.6 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2007 - - - - - -
H2 2007 - - - - - -
H1 2008 - - - - - -
H2 2008 - - - - - -
H1 2009 - - - - - -
H2 2009 - - - - - -
H1 2010 - - - - - -
H2 2010 - - - - - -
H1 2011 - - - - - -
H2 2011 - - - - - -
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 1.60 - 0.53 - 1.60 0.53
H2 2016 (6.86) - (2.29) - (6.86) (2.29)
2016 5.30 (8.3 %) 1.77 - 5.30 1.77

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2007 - - -
H2 2007 - - -
H1 2008 - - -
H2 2008 - - -
H1 2009 - - -
H2 2009 - - -
H1 2010 - - -
H2 2010 - - -
H1 2011 - - -
H2 2011 - - -
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 22.79 % (2.71 %) (7.62 %)
2016 22.79 % 20.09 % 15.18 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2007 - - - -
H2 2007 - - - -
H1 2008 - - - -
H2 2008 - - - -
H1 2009 - - - -
H2 2009 - - - -
H1 2010 - - - -
H2 2010 - - - -
H1 2011 - - - -
H2 2011 - - - -
H1 2012 - - - -
H2 2012 - - - -
H1 2013 - - - -
H2 2013 - - - -
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 3.00 - - 5.11
H2 2016 3.00 (0.89) (0.89) 4.84

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2007 - - -
H2 2007 - - -
H1 2008 - - -
H2 2008 - - -
H1 2009 - - -
H2 2009 - - -
H1 2010 - - -
H2 2010 - - -
H1 2011 - - -
H2 2011 - - -
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -


Financial Ratios
Current
Market Cap (M Riyal) 391.80
Enterprise Value (EV) (M) 401.20
Shares Outstanding ((M)) 3.00
Book Value (BV) ( Riyal) 8.32
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
Price/book 15.70
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