Farm Superstores’ net profit jumps 12% in nine-months 2015

Farm Superstores’ net profit jumps 12% in nine-months 2015

18/10/2015 Argaam Exclusive

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Saudi Marketing Company (Farm Superstores) reported a net profit of SAR 90.9 million for the first nine months of 2015, a 12 percent increase compared to the same period last year, driven by higher sales and new branches.



Financials (M)

Item 9m 2014 9m 2015 Change‬
Revenues 1,290.13 1,417.99 9.9 %
Gross Income 300.43 348.06 15.9 %
Operating Income 84.15 103.21 22.7 %
Net Income 81.37 90.86 11.7 %
Average Shares 45.00 45.00 -
EPS (Riyals) 1.81 2.02 11.7 %

 

The company, which invests in entertainment centers and general retail, reported a net profit of SAR 29 million in Q3 this year, 17 percent rise from the same quarter last year.



Current Quarter Comparison (M)

Compared With The
Item Q3 2014 Q3 2015 Change‬
Revenues 409.88 448.70 9.5 %
Gross Income 103.87 120.48 16.0 %
Operating Income 26.69 36.39 36.4 %
Net Income 24.70 28.95 17.2 %
Average Shares 45.00 45.00 -
EPS (Riyals) 0.55 0.64 17.2 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 303.99 - 62.21 - 14.19 -
Q3 2011 330.91 - 68.92 - 14.12 -
Q4 2011 350.17 - 50.81 - 19.08 -
Q1 2012 342.36 - 64.04 - 18.76 -
Q2 2012 350.01 15.1 % 78.29 25.8 % 19.20 35.3 %
Q3 2012 384.15 16.1 % 84.23 22.2 % 22.29 57.9 %
Q4 2012 419.14 19.7 % 72.64 43.0 % 12.25 (35.8 %)
Q1 2013 391.22 14.3 % 87.02 35.9 % 26.24 39.9 %
Q2 2013 397.65 13.6 % 89.20 13.9 % 21.25 10.7 %
Q3 2013 413.71 7.7 % 89.95 6.8 % 20.31 (8.9 %)
Q4 2013 423.76 1.1 % 87.89 21.0 % 26.43 115.8 %
Q1 2014 405.04 3.5 % 93.24 7.2 % 28.10 7.1 %
Q2 2014 475.21 19.5 % 103.31 15.8 % 29.36 38.2 %
Q3 2014 409.88 (0.9 %) 103.87 15.5 % 26.69 31.4 %
Q4 2014 450.89 6.4 % 102.85 17.0 % 28.00 5.9 %
Q1 2015 455.49 12.5 % 104.58 12.2 % 32.61 16.0 %
Q2 2015 513.81 8.1 % 123.00 19.1 % 34.21 16.5 %
Q3 2015 448.70 9.5 % 120.48 16.0 % 36.39 36.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 - - - - - -
Q2 2009 - - - - - -
Q3 2009 - - - - - -
Q4 2009 - - - - - -
Q1 2010 - - - - - -
Q2 2010 - - - - - -
Q3 2010 - - - - - -
Q4 2010 - - - - - -
Q1 2011 - - - - - -
Q2 2011 17.35 - 0.39 - 17.35 0.39
Q3 2011 14.92 - 0.33 - 14.92 0.33
Q4 2011 19.48 - 0.43 - 19.48 0.43
Q1 2012 18.86 - 0.42 - 18.86 0.42
Q2 2012 18.76 8.1 % 0.42 - 18.76 0.42
Q3 2012 23.52 57.7 % 0.52 - 23.52 0.52
Q4 2012 17.63 (9.5 %) 0.39 - 17.63 0.39
Q1 2013 24.68 30.9 % 0.55 - 24.68 0.55
Q2 2013 21.38 14.0 % 0.48 - 21.38 0.48
Q3 2013 22.21 (5.6 %) 0.49 - 22.21 0.49
Q4 2013 26.87 52.4 % 0.60 - 26.87 0.60
Q1 2014 27.54 11.6 % 0.61 - 27.54 0.61
Q2 2014 29.13 36.2 % 0.65 - 29.13 0.65
Q3 2014 24.70 11.2 % 0.55 - 24.70 0.55
Q4 2014 23.11 (14.0 %) 0.51 - 23.11 0.51
Q1 2015 29.08 5.6 % 0.65 - 29.08 0.65
Q2 2015 32.83 12.7 % 0.73 - 32.83 0.73
Q3 2015 28.95 17.2 % 0.64 (3.68) 32.63 0.73

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 18.53 % 6.38 % 5.32 %
Q2 2012 19.08 % 6.99 % 5.24 %
Q3 2012 19.44 % 7.31 % 5.65 %
Q4 2012 20.00 % 6.66 % 5.27 %
Q1 2013 20.86 % 6.92 % 5.48 %
Q2 2013 20.92 % 6.91 % 5.48 %
Q3 2013 20.89 % 6.70 % 5.30 %
Q4 2013 21.77 % 7.62 % 5.85 %
Q1 2014 21.97 % 7.70 % 5.98 %
Q2 2014 21.80 % 7.85 % 6.16 %
Q3 2014 22.66 % 8.26 % 6.32 %
Q4 2014 23.16 % 8.27 % 6.00 %
Q1 2015 23.14 % 8.40 % 5.92 %
Q2 2015 23.73 % 8.60 % 6.00 %
Q3 2015 24.13 % 9.07 % 6.29 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2006 - - - -
Q2 2006 - - - -
Q3 2006 - - - -
Q4 2006 - - - -
Q1 2007 - - - -
Q2 2007 - - - -
Q3 2007 - - - -
Q4 2007 - - - -
Q1 2008 - - - -
Q2 2008 - - - -
Q3 2008 - - - -
Q4 2008 - - - -
Q1 2009 - - - -
Q2 2009 - - - -
Q3 2009 - - - -
Q4 2009 - - - -
Q1 2010 - - - -
Q2 2010 - - - -
Q3 2010 - - - -
Q4 2010 - - - -
Q1 2011 - - - -
Q2 2011 45.00 - - 7.10
Q3 2011 45.00 - - 7.60
Q4 2011 45.00 - - 7.73
Q1 2012 45.00 1.57 1.57 8.15
Q2 2012 45.00 1.60 1.60 8.56
Q3 2012 45.00 1.79 1.79 9.09
Q4 2012 45.00 1.75 1.75 9.20
Q1 2013 45.00 1.88 1.88 8.43
Q2 2013 45.00 1.94 1.94 8.90
Q3 2013 45.00 1.91 1.91 9.40
Q4 2013 45.00 2.11 2.11 8.72
Q1 2014 45.00 2.18 2.18 9.33
Q2 2014 45.00 2.35 2.35 9.97
Q3 2014 45.00 2.41 2.41 10.52
Q4 2014 45.00 2.32 2.32 11.04
Q1 2015 45.00 2.36 2.36 11.68
Q2 2015 45.00 2.44 2.44 11.25
Q3 2015 45.00 2.53 2.61 11.89

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 22.00 22.00 5.14
Q2 2014 27.20 27.20 6.41
Q3 2014 30.58 30.58 6.99
Q4 2014 27.42 27.42 5.77
Q1 2015 24.69 24.69 4.98
Q2 2015 24.25 24.25 5.26
Q3 2015 20.03 19.40 4.27

Analysts Estimates (Million)

Item Q3 2015 (e) Q3 2015 (a) Change‬
Average 29.08 28.95 (0.4 %)

Estimates vs Actual (Million)

Item Q3 2015 (e) Q3 2015 (a) Change
OSOOL AND BAKHEET 28.30 28.95 2.3 %
SFC 28.00 28.95 3.4 %
Alistithmar Capital 30.00 28.95 (3.5) %
Albilad Capital 30.00 28.95 (3.5) %

Current
Market Cap (M Riyal) 993.60
Enterprise Value (EV) (M) 1,563.94
Shares Outstanding ((M)) 45.00
EPS ( Riyal) (TTM) 0.52
Book Value (BV) ( Riyal) 15.14
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 26.05
P/E (TTM) 42.21
Price/book 1.46
Return on Average Assets (%) (TTM) 1.0
Return on Average Equity (%) (TTM) 3.5

Share Price

22.08
0.28 1.28 %

Saudi Marketing Co. (FARM SUPERSTORES)


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