International Human Resources turns to SAR 2.5 mln profit in 2021
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International Human Resources Co., which plans to list shares on Nomu-Parallel Market soon, swung to a net profit of SAR 2.5 million in 2021, against a net loss of SAR 973,000 a year earlier.
Financials (M)
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 74.85 | 77.99 | 4.2 % |
| Gross Income | 8.48 | 15.67 | 84.7 % |
| Operating Income | (0.09) | 3.21 | 3777.8 % |
| Net Income | (0.97) | 2.46 | 352.8 % |
| Average Shares | 50.00 | 50.00 | - |
| EPS (Halala) | (1.95) | 4.92 | 352.8 % |
The annual profit was driven by a 10% year-on-year (YoY) growth in revenue. Gross income also jumped by 85% YoY, coupled with a rise in operating income despite a 45% YoY drop in administrative and marketing expenses.
Current Half Annual Comparison (M)
| Item | H2 2020 | H2 2021 | Change |
|---|
Shareholders’ equity increased to SAR 18.97 million by the end of 2021, from SAR 16.20 million a year earlier.
The company’s cash balance dropped to SAR 1.5 million in 2021, compared to SAR 4.5 million in 2020.
On a segment level, the outsourcing services saw its annual revenues higher to SAR 69.9 million from SAR 65.7 million a year earlier.
The recruitment segment’s revenues rose to SAR 628,000 from SAR 356,000 in 2020.
The logistics, financial and consulting services segment reported revenues of SAR 7.55 million in 2021, compared to SAR 8.78 million a year earlier.
The technical products business posted SAR 4 million revenues during the same period.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2021 | 41.41 | - | 8.90 | - | 3.19 | - |
| H2 2021 | 36.58 | - | 6.77 | - | 0.02 | - |
| 2021 | 77.99 | 4.2 % | 15.67 | 84.7 % | 3.21 | 3777.8 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Halala) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2021 | 3.00 | - | 6.01 | - | 3.00 | 0.06 |
| H2 2021 | (0.54) | - | (1.09) | - | (0.54) | (0.01) |
| 2021 | 2.46 | 352.8 % | 4.92 | - | 2.46 | 0.05 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2021 | - | - | - |
| H2 2021 | 20.09 % | 5.12 % | 3.15 % |
| 2021 | 20.09 % | 5.12 % | 3.15 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Halala) | Adjusted EPS (Halala) | Book Value (BV) |
|---|---|---|---|---|
| H1 2021 | 50.00 | - | - | 0.38 |
| H2 2021 | 50.00 | 4.92 | 4.92 | 0.38 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2021 | - | - | - |
| H2 2021 | - | - | - |
| Current | |
| Market Cap (M Riyal) | 274.00 |
| Enterprise Value (EV) (M) | 271.37 |
| Shares Outstanding ((M)) | 50.00 |
| Book Value (BV) ( Riyal) | 0.87 |
| Par Value ( Halala) | 50.00 |
| Adjusted P/E (Last12) | More than 100 |
| Price/book | 6.32 |
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