Maharah’s net profit rises 22% in FY2019
16/03/2020
Argaam Exclusive
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Maharah Human Resources Co.'s net profit after Zakat and tax rose 22% year-on-year (YoY) to SAR 272.1 million for the fiscal year 2019.
Financials (M)
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 1,351.92 | 1,512.30 | 11.9 % |
| Gross Income | 298.38 | 379.81 | 27.3 % |
| Operating Income | 228.12 | 303.93 | 33.2 % |
| Net Income | 222.25 | 272.09 | 22.4 % |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.47 | 0.57 | 22.4 % |
The higher profit was attributed to a 12% rise in revenue and 27% jump in gross profit. General and administrative expenses (G&A), however, rose by SAR 2.7 million
In Q4 2019, the company’s net profit after Zakat and tax increased by 40% year-on-year (YoY) to SAR 66 million.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 343.12 | 385.83 | 12.4 % |
| Gross Income | 76.13 | 106.84 | 40.3 % |
| Operating Income | 54.02 | 85.20 | 57.7 % |
| Net Income | 47.30 | 65.95 | 39.5 % |
| Average Shares | 475.00 | 475.00 | - |
| EPS (Riyals) | 0.10 | 0.14 | 39.5 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2019 | 372.88 | 13.9 % | 79.77 | 27.2 % | 60.85 | 41.6 % |
| Q2 2019 | 367.22 | 8.8 % | 86.93 | 12.8 % | 70.77 | 15.0 % |
| Q3 2019 | 386.37 | 12.3 % | 106.27 | 28.8 % | 87.11 | 25.2 % |
| Q4 2019 | 385.83 | 12.4 % | 106.84 | 40.3 % | 85.20 | 57.7 % |
| 2019 | 1,512.30 | 11.9 % | 379.81 | 27.3 % | 303.93 | 33.2 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2019 | 54.02 | 12.5 % | 0.11 | - | 54.02 | 0.11 |
| Q2 2019 | 71.99 | 25.0 % | 0.15 | 1.73 | 70.26 | 0.15 |
| Q3 2019 | 80.13 | 15.5 % | 0.17 | - | 80.13 | 0.17 |
| Q4 2019 | 65.95 | 39.5 % | 0.14 | - | 65.95 | 0.14 |
| 2019 | 272.09 | 22.4 % | 0.57 | 1.73 | 270.36 | 0.57 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2019 | 22.57 % | 18.66 % | 16.33 % |
| Q2 2019 | 22.80 % | 19.09 % | 16.88 % |
| Q3 2019 | 23.75 % | 20.01 % | 17.13 % |
| Q4 2019 | 25.11 % | 21.47 % | 17.88 % |
| 2019 | 25.11 % | 21.47 % | 17.88 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2019 | 475.00 | 0.48 | 0.48 | 1.02 |
| Q2 2019 | 475.00 | 0.51 | 0.51 | 1.17 |
| Q3 2019 | 475.00 | 0.53 | 0.53 | 1.12 |
| Q4 2019 | 475.00 | 0.57 | 0.57 | 1.24 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2019 | - | - | - |
| Q2 2019 | 13.45 | 13.54 | 5.89 |
| Q3 2019 | 14.80 | 14.90 | 7.05 |
| Q4 2019 | 11.87 | 11.94 | 5.47 |
Business Segments (Million)
Q4 2019
| Period | Corporate | Individuals |
|---|---|---|
| Q1 2019 | 268.44 | 104.44 |
| Q2 2019 | 269.67 | 97.55 |
| Q3 2019 | 283.46 | 102.91 |
| Q4 2019 | 270.89 | 114.93 |
| Current | |
| Market Cap (M Riyal) | 2,873.75 |
| Enterprise Value (EV) (M) | 3,386.70 |
| Shares Outstanding ((M)) | 475.00 |
| EPS ( Riyal) (TTM) | 0.28 |
| Book Value (BV) ( Riyal) | 1.31 |
| Par Value ( Riyal) | 1.00 |
| Adjusted P/E (Last12) | 18.94 |
| P/E (TTM) | 21.32 |
| Price/book | 4.61 |
| Return on Average Assets (%) (TTM) | 7.6 |
| Return on Average Equity (%) (TTM) | 22.6 |
Share Price
Maharah Human Resources Co. (MAHARAH)
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