1443/04/05 Wed Nov 10, 2021 08:03:11
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Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
Sales/Revenue | 1,996.75 | 1,812.81 | 10.146 | 2,171.27 | -8.037 |
Gross Profit (Loss) | 400.04 | 411.63 | -2.815 | 400.49 | -0.112 |
Operational Profit (Loss) | 56.25 | 77.17 | -27.108 | 55.4 | 1.534 |
Net Profit (Loss) after Zakat and Tax | 44.87 | 60.69 | -26.066 | 47.93 | -6.384 |
Total Comprehensive Income | 41.6 | 58.78 | -29.227 | 50.56 | -17.721 |
All figures are in (Millions) Saudi Arabia, Riyals |
Element List | Current Period | Similar period for previous year | %Change |
Sales/Revenue | 6,265.17 | 6,766.73 | -7.412 |
Gross Profit (Loss) | 1,219.75 | 1,383.1 | -11.81 |
Operational Profit (Loss) | 177.92 | 335.7 | -47 |
Net Profit (Loss) after Zakat and Tax | 150.48 | 285.5 | -47.292 |
Total Comprehensive Income | 145.93 | 279.06 | -47.706 |
Total Share Holders Equity (after Deducting Minority Equity) | 1,220.26 | 1,361.5 | -10.373 |
Profit (Loss) per Share | 1.67 | 3.17 | |
All figures are in (Millions) Saudi Arabia, Riyals |
Element List | Explanation |
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Sales growth by 10.15% from existing and new branches. while the third quarter of the previous year witnessed notable drop in sales after raising VAT to15%, the sales in current quarter started to return to the normal levels. Gross margin dropped down due to the hard promotions and the change in consumers behavior by focusing on discounted goods. In addition, G&A expenses increased due to recording advisory fees for the acquisition transaction related to the Fourth Milling Company and for enhancing competencies in senior positions, while the company benefited from government initiatives in the third quarter last year. On the other hand, the real estate activity was positively affected after witnessing a decline in the same quarter last year. Also, the performance of the subsidiaries and associates improved as they were affected by the preventive measures in the third quarter last year. |
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | Sales decline by 8.04% as a result of the Ramadan season in the previous quarter, despite the decrease in gross margin and the recovery of the real estate activity. |
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Sales decline by 7.41%, where the first half of previous year witnessed high demand for buying as a precaution to the preventive measures to limit the Corona virus outbreak. In addition to the high demand before raising VAT on 01/07/2020. Gross margin dropped down due to the increase in promotions and the change in consumers behavior by focusing on discounted goods. In addition, G&A expenses increased due to recording advisory fees for the acquisition transaction related to the Fourth Milling Company and for enhancing competencies in senior positions, while the company benefited from government initiatives in the same period last year. On the other hand, the real estate activity was positively affected after witnessing a decline in the same period last year. Also, the performance of the subsidiaries and associates improved as they were affected by the preventive measures in the same period last year. |
Statement of the type of external auditor's report | Unmodified conclusion |
Reclassification of Comparison Items | Some comparative figures have been restated to be consistent with the presentation of the current period. |
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Abdullah Al Othaim Markets Company SJSC published this content on 10 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2021 09:54:02 UTC.