Financial Results : Herfy net profit up 12% to SAR 28.4 mln in Q1 2022

Herfy net profit up 12% to SAR 28.4 mln in Q1 2022

12/05/2022 Argaam Exclusive

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Herfy Food Services Co. reported a net profit after Zakat and tax of SAR 28.4 million for Q1 2022, a 12% increase from a profit of SAR 25.5 million in the same period a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 311.12 331.00 6.4 %
Gross Income 82.11 96.94 18.1 %
Operating Income 32.31 34.58 7.0 %
Net Income 25.47 26.72 4.9 %
Average Shares 64.68 64.68 -
Earnings Per Share before unusual items 0.39 0.41 4.9 %
EPS (Riyals) 0.39 0.41 4.9 %

The profit increase is attributed to higher sales and other income, in addition to lower general and administration expenses, finance cost and Zakat expenses.

 

Sequentially, the company’s net profit fell 41.6% in Q1 2022 from a profit of SAR 48.6 million in Q4 2021.

Total shareholders’ equity stood at SAR 1.0766 billion as of March 31, 2022, increasing by 9.3% from SAR 984.865 million a year earlier.

 

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