Savola Group reported a net profit after Zakat and tax of SAR 270.9 million for Q1 2022, a 76% increase from SAR 153.8 million in the same period a year earlier.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 5,953.57 | 7,489.35 | 25.8 % |
| Gross Income | 1,211.63 | 1,285.41 | 6.1 % |
| Operating Income | 244.24 | 324.26 | 32.8 % |
| Net Income | 153.83 | 270.89 | 76.1 % |
| Average Shares | 533.98 | 533.98 | - |
| EPS (Riyals) | 0.29 | 0.51 | 76.1 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 6,755.27 | 7,489.35 | 10.9 % |
| Gross Income | 1,127.80 | 1,285.41 | 14.0 % |
| Operating Income | 241.57 | 324.26 | 34.2 % |
| Net Income | (254.36) | 270.89 | 206.5 % |
| Average Shares | 533.98 | 533.98 | - |
| EPS (Riyals) | (0.48) | 0.51 | 206.5 % |
The profit increase is attributed to higher sales volume that was partially offset by a rise in commodity prices in the food processing segment. In addition, Savola noted a higher share of profits from associates and lower operating expenses.
The company turned to a net profit in Q1 2022 from a net loss of SAR 254.4 million in Q4 2021.
Total shareholders’ equity, excluding minority interest, stood at SAR 8.177 billion as of March 31, 2022, declining by 3.9% from SAR 8.507 billion a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}