Herfy Food’s net profit fell 2.6% in H1

24/07/2018 Argaam Exclusive

View other reports

Share Price

30.30
0.10 0.33 %

Herfy Food Services Co. (HERFY FOODS)

Herfy Food Services Co. reported a net profit of SAR 93.6 million for the first six months of 2018, a 2.59 percent year-on-year (YoY) drop due to higher cost of sales, an increase in the cost of finance and higher general and administrative expenses.



Financials (M)

Item 6m 2017 6m 2018 Change‬
Revenues 547.11 572.91 4.7 %
Gross Income 162.28 157.71 (2.8 %)
Operating Income 97.01 95.79 (1.3 %)
Net Income 96.12 93.63 (2.6 %)
Average Shares 64.68 64.68 -
EPS (Riyals) 1.49 1.45 (2.6 %)

The firm’s net profit in Q2 rose about 5.7 percent YoY to SAR 45.9 million on higher sales, lower selling and marketing expenses, and higher other income.

 

On a sequential basis, Q2 net profit fell 3.9 percent compared to the previous quarter due to higher selling and marketing expenses, higher cost of finance and an increase in the general and administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q2 2017 Q2 2018 Change‬
Revenues 272.10 286.61 5.3 %
Gross Income 75.42 78.73 4.4 %
Operating Income 43.65 46.78 7.2 %
Net Income 43.40 45.89 5.7 %
Average Shares 64.68 64.68 -
EPS (Riyals) 0.67 0.71 5.7 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2009 122.50 - 37.83 - 23.76 - 0.37
Q2 2009 132.10 - 45.32 - 31.35 - 0.48
Q3 2009 133.16 - 43.53 - 29.92 - 0.46
Q4 2009 129.83 - 42.63 - 29.62 - 0.46
Q1 2010 136.19 11.2 % 44.41 17.4 % 28.15 18.5 % 0.44
Q2 2010 146.75 11.1 % 49.83 10.0 % 32.61 4.0 % 0.50
Q3 2010 145.82 9.5 % 47.79 9.8 % 30.43 1.7 % 0.47
Q4 2010 151.17 16.4 % 50.87 19.3 % 33.09 11.7 % 0.51
Q1 2011 159.30 17.0 % 50.63 14.0 % 32.55 15.6 % 0.50
Q2 2011 188.42 28.4 % 61.27 23.0 % 39.36 20.7 % 0.61
Q3 2011 172.52 18.3 % 52.06 8.9 % 34.46 13.2 % 0.53
Q4 2011 188.33 24.6 % 62.29 22.4 % 40.28 21.7 % 0.62
Q1 2012 198.94 24.9 % 61.70 21.9 % 40.60 24.8 % 0.63
Q2 2012 218.32 15.9 % 70.50 15.1 % 49.31 25.3 % 0.76
Q3 2012 203.04 17.7 % 61.28 17.7 % 42.38 23.0 % 0.66
Q4 2012 221.71 17.7 % 72.88 17.0 % 48.87 21.3 % 0.76
Q1 2013 208.77 4.9 % 67.06 8.7 % 46.46 14.4 % 0.72
Q2 2013 222.81 2.1 % 72.45 2.8 % 51.22 3.9 % 0.79
Q3 2013 198.54 (2.2 %) 60.26 (1.7 %) 42.40 0.0 % 0.66
Q4 2013 218.59 (1.4 %) 73.37 0.7 % 57.57 17.8 % 0.89
Q1 2014 215.93 3.4 % 71.32 6.3 % 48.01 3.3 % 0.74
Q2 2014 226.72 1.8 % 76.35 5.4 % 52.40 2.3 % 0.81
Q3 2014 224.71 13.2 % 71.72 19.0 % 56.72 33.8 % 0.88
Q4 2014 242.78 11.1 % 72.01 (1.9 %) 48.68 (15.4 %) 0.75
Q1 2015 265.20 22.8 % 86.87 21.8 % 54.54 13.6 % 0.84
Q2 2015 259.36 14.4 % 75.02 (1.7 %) 46.27 (11.7 %) 0.72
Q3 2015 279.47 24.4 % 85.35 19.0 % 56.65 (0.1 %) 0.88
Q4 2015 272.97 12.4 % 73.55 2.1 % 45.22 (7.1 %) 0.70
Q1 2016 283.55 6.9 % 85.25 (1.9 %) 53.35 (2.2 %) 0.82
Q2 2016 277.73 7.1 % 76.77 2.3 % 49.48 7.0 % 0.77
Q3 2016 315.17 12.8 % 95.22 11.6 % 59.29 4.7 % 0.92
Q4 2016 280.23 2.7 % 90.37 22.9 % 54.95 21.5 % 0.85
Q1 2017 275.01 (3.0 %) 86.86 1.9 % 52.72 (1.2 %) 0.82
Q2 2017 272.10 (2.0 %) 75.42 (1.8 %) 43.40 (12.3 %) 0.67
Q3 2017 311.72 (1.1 %) 90.06 (5.4 %) 56.04 (5.5 %) 0.87
Q4 2017 298.96 6.7 % 89.40 (1.1 %) 47.89 (12.9 %) 0.74
Q1 2018 286.30 4.1 % 78.98 (9.1 %) 47.75 (9.4 %) 0.74
Q2 2018 286.61 5.3 % 78.73 4.4 % 45.89 5.7 % 0.71

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 32.71 % 27.26 % 22.15 %
Q1 2010 33.11 % 27.66 % 22.40 %
Q2 2010 33.04 % 27.45 % 22.03 %
Q3 2010 33.06 % 27.12 % 21.63 %
Q4 2010 33.26 % 27.12 % 21.43 %
Q1 2011 33.02 % 27.11 % 21.34 %
Q2 2011 32.66 % 26.79 % 21.01 %
Q3 2011 32.00 % 26.51 % 20.77 %
Q4 2011 31.93 % 26.56 % 20.70 %
Q1 2012 31.72 % 26.37 % 20.68 %
Q2 2012 31.69 % 26.60 % 21.16 %
Q3 2012 31.63 % 26.74 % 21.34 %
Q4 2012 31.63 % 26.91 % 21.52 %
Q1 2013 31.90 % 27.49 % 21.95 %
Q2 2013 31.96 % 27.80 % 22.06 %
Q3 2013 32.01 % 27.66 % 22.18 %
Q4 2013 32.18 % 27.95 % 22.56 %
Q1 2014 32.41 % 28.02 % 22.55 %
Q2 2014 32.72 % 28.34 % 22.58 %
Q3 2014 33.05 % 28.31 % 22.06 %
Q4 2014 32.02 % 27.42 % 21.05 %
Q1 2015 31.99 % 27.21 % 20.65 %
Q2 2015 30.81 % 26.54 % 19.35 %
Q3 2015 30.50 % 26.96 % 19.58 %
Q4 2015 29.79 % 26.88 % 18.82 %
Q1 2016 29.14 % 26.58 % 18.39 %
Q2 2016 28.82 % 26.53 % 18.38 %
Q3 2016 28.78 % 25.92 % 18.04 %
Q4 2016 30.05 % 25.79 % 18.77 %
Q1 2017 30.42 % 25.60 % 18.85 %
Q2 2017 30.45 % 24.69 % 18.41 %
Q3 2017 30.09 % 24.32 % 18.18 %
Q4 2017 29.52 % 23.63 % 17.28 %
Q1 2018 28.56 % 23.12 % 16.69 %
Q2 2018 28.49 % 23.18 % 16.69 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2009 64.68 - - 4.42
Q2 2009 64.68 - - 4.59
Q3 2009 64.68 - - 5.06
Q4 2009 64.68 1.77 1.77 4.90
Q1 2010 64.68 1.84 1.84 5.33
Q2 2010 64.68 1.86 1.86 5.52
Q3 2010 64.68 1.87 1.87 5.37
Q4 2010 64.68 1.92 1.92 5.88
Q1 2011 64.68 1.99 1.99 6.38
Q2 2011 64.68 2.09 2.09 6.34
Q3 2011 64.68 2.16 2.16 6.17
Q4 2011 64.68 2.27 2.27 6.80
Q1 2012 64.68 2.39 2.39 7.42
Q2 2012 64.68 2.55 2.55 7.46
Q3 2012 64.68 2.67 2.67 7.31
Q4 2012 64.68 2.80 2.80 8.06
Q1 2013 64.68 2.89 2.89 8.78
Q2 2013 64.68 2.92 2.92 8.73
Q3 2013 64.68 2.92 2.92 8.50
Q4 2013 64.68 3.06 2.96 9.29
Q1 2014 64.68 3.08 2.98 10.03
Q2 2014 64.68 3.10 3.00 9.92
Q3 2014 64.68 3.32 3.02 9.73
Q4 2014 64.68 3.18 2.96 10.48
Q1 2015 64.68 3.28 3.06 11.32
Q2 2015 64.68 3.19 2.97 10.87
Q3 2015 64.68 3.19 3.17 10.67
Q4 2015 64.68 3.13 3.13 11.37
Q1 2016 64.68 3.12 3.12 12.04
Q2 2016 64.68 3.16 3.16 11.71
Q3 2016 64.68 3.21 3.21 11.55
Q4 2016 64.68 3.36 3.36 12.41
Q1 2017 64.68 3.35 3.35 13.23
Q2 2017 64.68 3.25 3.25 12.80
Q3 2017 64.68 3.20 3.20 12.66
Q4 2017 64.68 3.09 3.09 13.40
Q1 2018 64.68 3.02 3.02 14.14
Q2 2018 64.68 3.05 3.05 13.72

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 13.89 13.89 4.79
Q2 2010 16.32 16.32 5.50
Q3 2010 17.54 17.54 6.10
Q4 2010 17.15 17.15 5.61
Q1 2011 16.78 16.78 5.23
Q2 2011 17.34 17.34 5.73
Q3 2011 16.13 16.13 5.63
Q4 2011 17.48 17.48 5.83
Q1 2012 17.64 17.64 5.68
Q2 2012 16.12 16.12 5.50
Q3 2012 17.55 17.55 6.41
Q4 2012 17.38 17.38 6.04
Q1 2013 18.40 18.40 6.06
Q2 2013 20.78 20.78 6.95
Q3 2013 20.95 20.95 7.20
Q4 2013 18.53 19.13 6.09
Q1 2014 22.85 23.59 7.02
Q2 2014 23.25 24.00 7.26
Q3 2014 22.07 24.25 7.53
Q4 2014 21.83 23.45 6.63
Q1 2015 24.15 25.88 7.00
Q2 2015 26.22 28.16 7.69
Q3 2015 21.07 21.20 6.29
Q4 2015 22.93 22.93 6.32
Q1 2016 14.85 14.85 3.84
Q2 2016 17.52 17.52 4.74
Q3 2016 14.23 14.23 3.95
Q4 2016 16.69 16.69 4.51
Q1 2017 17.66 17.66 4.47
Q2 2017 17.34 17.34 4.41
Q3 2017 15.61 15.61 3.95
Q4 2017 14.92 14.92 3.44
Q1 2018 15.75 15.75 3.36
Q2 2018 15.34 15.34 3.41

Business Segments (Million)

Compared With The
Period Restaurants Meat Factory Bakeries and others Shaboura factory
Q1 2009 94.27 2.74 21.45 4.04
Q2 2009 102.85 3.28 22.06 3.92
Q3 2009 107.65 3.02 19.09 3.39
Q4 2009 99.25 3.71 22.54 4.33
Q1 2010 104.81 4.03 22.98 4.37
Q2 2010 115.81 4.45 23.12 3.38
Q3 2010 120.95 4.30 18.30 2.27
Q4 2010 119.57 5.56 23.02 3.02
Q1 2011 124.61 6.28 23.98 4.43
Q2 2011 152.46 5.94 26.29 3.73
Q3 2011 144.55 5.36 20.74 1.88
Q4 2011 151.15 6.80 27.33 3.06
Q1 2012 161.28 7.26 27.15 3.26
Q2 2012 177.78 6.61 29.96 3.97
Q3 2012 170.50 5.86 33.91 -
Q4 2012 187.78 7.21 26.73 -
Q1 2013 176.07 6.47 26.22 -
Q2 2013 189.39 6.62 26.81 -
Q3 2013 173.20 6.79 18.54 -
Q4 2013 185.46 8.70 24.42 -
Q1 2014 182.75 7.74 25.44 -
Q2 2014 191.16 7.68 27.88 -
Q3 2014 196.58 6.76 21.37 -
Q4 2014 204.62 7.63 30.54 -
Q1 2015 226.66 6.83 31.71 -
Q2 2015 221.24 7.83 30.29 -
Q3 2015 246.39 6.06 27.01 -
Q4 2015 227.95 7.80 37.23 -
Q1 2016 241.18 6.67 35.70 -
Q2 2016 239.31 6.29 32.13 -
Q3 2016 279.93 6.12 29.12 -
Q4 2016 234.31 7.48 38.43 -
Q1 2017 232.91 7.83 34.28 -
Q2 2017 235.78 6.35 29.97 -
Q3 2017 273.07 6.90 31.75 -
Q4 2017 252.38 7.63 38.95 -
Q1 2018 243.28 7.40 35.62 -
Q2 2018 249.13 7.22 30.27 -

Analysts Estimates (Million)

Item Q2 2018 (e) Q2 2018 (a) Change‬
Average 42.54 45.89 7.87 %

Estimates vs Actual (Million)

Item Q2 2018 (e) Q2 2018 (a) Change
Al Rajhi Capital 45.00 45.89 2.0 %
OSOOL AND BAKHEET 44.20 45.89 3.8 %
Arbah Capital 42.50 45.89 8.0 %
Albilad Capital 41.00 45.89 11.9 %
Sico 40.00 45.89 14.7 %

Current
Market Cap (M Riyal) 1,959.80
Enterprise Value (EV) (M) 1,955.19
Shares Outstanding ((M)) 64.68
EPS ( Riyal) (TTM) 0.33
Book Value (BV) ( Riyal) 15.99
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 50
P/E (TTM) More than 50
Price/book 1.90
Return on Average Assets (%) (TTM) 1.1
Return on Average Equity (%) (TTM) 2.1

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.