SACO 9M 2021 net profit drops 74% to SAR 16.2 mln

10/11/2021 Argaam Exclusive
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Saudi Company for Hardware’s (SACO) net profit after Zakat and tax declined 74% to SAR 16.2 million in the first nine months of 2021, from SAR 61.3 million in the same period a year ago.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 1,079.71 957.13 (11.4 %)
Gross Income 215.59 169.55 (21.4 %)
Operating Income 101.07 47.23 (53.3 %)
Net Income 61.34 16.20 (73.6 %)
Average Shares 36.00 36.00 -
Earnings Per Share before unusual items 1.70 0.45 (73.6 %)
EPS (Riyals) 1.70 0.45 (73.6 %)

The company attributed the profit drop to lower sales, due to the delay in receiving imported goods and higher freight and shipping costs as a result of the supply chain crisis.

 

The company also cited higher selling and marketing expenses and SAR 14.83 million impairment loss on non-financial assets (non-recurring).



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 332.14 295.83 (10.9 %)
Gross Income 67.24 38.48 (42.8 %)
Operating Income 27.60 (2.97) (110.7 %)
Net Income 16.48 (13.88) (184.2 %)
Average Shares 36.00 36.00 -
Earnings Per Share before unusual items 0.46 (0.39) (184.2 %)
EPS (Riyals) 0.46 (0.39) (184.2 %)

SACO turned to a net loss after Zakat and tax of SAR 13.9 million in the third quarter of 2021 from a net profit of SAR 16.4 million in Q3 2020, on lower sales.

 

SACO swung to losses against a net profit of SAR 14.44 million in Q2 2020, due to higher finance cost, as well as general and administrative expenses. 

 

Shareholders' equity, after minority interest, at the end of 9M 2021 amounted to SAR 599.73 million, compared to SAR 585.2 million in the same period last year.

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Share Price

Saudi Company for Hardware
31.00
(1.05) (3.28 %)

Saudi Company for Hardware (SACO)

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Financial Ratios
Current
Market Cap (M Riyal) 1,116.00
Enterprise Value (EV) (M) 1,256.01
Shares Outstanding ((M)) 36.00
EPS ( Riyal) (TTM) (0.39)
Book Value (BV) ( Riyal) 9.06
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 3.42
Return on Average Assets (%) (TTM) (1.18 )
Return on Average Equity (%) (TTM) (4.20 )
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Comments 1

1
18
3819

ابو ريم 11

منذ 7 شهر

تحسن جيد ان شاءالله تستمر اندبغ دبغ السهم بشكل غير طبيعي من اول يوم تداول قبل اشهر نزول اكثر من 50%  خلال اشهر من  حدود 21 الى 10 ريال الله يعوض ملاكها خير 

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