Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati) reported a net profit after Zakat and tax of SAR 25.1 million for the nine months period ended Dec. 31, 2022, compared to SAR 14.4 million in the prior-year period.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 208.79 | 251.01 | 20.2 % |
| Gross Income | 47.45 | 63.60 | 34.0 % |
| Operating Income | 16.86 | 27.00 | 60.1 % |
| Net Income | 14.42 | 25.14 | 74.3 % |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | 0.72 | 1.26 | 74.3 % |
The profit growth was driven by a 20.22% rise year-on-year (YoY) in sales as commercial activities normalized in the current period. Additionally, in-person attendance resumed at schools for all stages.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 90.46 | 86.29 | (4.6 %) |
| Gross Income | 19.37 | 20.09 | 3.7 % |
| Operating Income | 8.18 | 8.35 | 2.1 % |
| Net Income | 7.20 | 8.02 | 11.3 % |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | 0.36 | 0.40 | 11.3 % |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 101.78 | 86.29 | (15.2 %) |
| Gross Income | 27.08 | 20.09 | (25.8 %) |
| Operating Income | 13.99 | 8.35 | (40.3 %) |
| Net Income | 12.81 | 8.02 | (37.4 %) |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | 0.64 | 0.40 | (37.4 %) |
The third-quarter net profit after Zakat and tax rose 11% to SAR 8 million, from SAR 7.2 million in Q3 2021/22, thanks to a decline in the cost of goods sold and financing charges.
Compared to the second quarter, Abo Moati’s net profit fell 37.4% from SAR 12.81 million on a 15.22% drop in sales due to seasonal factors.
Total shareholders’ equity, no minority interest, reached SAR 250.85 million by the end of Dec. 31, 2022, compared to SAR 237.63 million in the same period last year.
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