Financial Results : Development Works For Food’s net profit rose 50% in H1

Development Works For Food’s net profit rose 50% in H1

29/08/2017 Argaam Exclusive

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Development Works For Food Co. reported a net profit of SAR 3.7 million for the first half of this year, a 50 percent year-on-year (YoY) increase due to higher revenues. 



Financials (M)

Item 6m 2016 6m 2017 Change‬
Revenues 18.18 33.93 86.6 %
Gross Income 8.78 6.79 (22.6 %)
Operating Income 2.48 3.88 56.2 %
Net Income 2.44 3.67 50.5 %
Average Shares 3.00 3.00 -
EPS (Riyals) 0.81 1.22 50.5 %

The company made a net profit of SAR 2.6 million in the second quarter of 2017, up 64 percent YoY, on the back of a doubling in revenue.

 

Net profit in Q2 more than doubled compared to around SAR 1 million compared to the previous quarter. 



Current Half Annual Comparison (M)

Compared With The
Item H1 2016 H1 2017 Change‬
Revenues 10.18 20.46 101.1 %
Gross Income 5.22 4.54 (13.0 %)
Operating Income 1.65 2.79 68.7 %
Net Income 1.60 2.63 64.4 %
Average Shares 3.00 3.00 -
EPS (Riyals) 0.53 0.88 64.4 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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) -
H1 2017 20.46 101.1 % 4.54 (13.0 %) 2.79 68.7 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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)
H1 2017 2.63 64.4 % 0.88 - 2.63 0.88

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
H1 2017 19.92 % 1.37 % (2.82 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
H1 2017 3.00 (0.48) (0.48) 5.90

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
H1 2017 NEG NEG 5.47


Financial Ratios
Current
Market Cap (M Riyal) 399.00
Enterprise Value (EV) (M) 408.40
Shares Outstanding ((M)) 3.00
Book Value (BV) ( Riyal) 8.32
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
Price/book 15.99
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