Abdulaziz and Mansour Ibrahim Albabtin Co. (AlBabtain Food) reported a net profit of SAR 15.9 million in 2021, an increase of 75%, from SAR 9.1 million in 2020, driven by an 80% surge year-on-year (YoY) in revenue, higher operating profit, lower cost of finance and a rise in other revenue.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 71.10 | 127.74 | 79.7 % |
| Gross Income | 25.15 | 41.43 | 64.7 % |
| Operating Income | 10.07 | 16.47 | 63.6 % |
| Net Income | 9.06 | 15.87 | 75.3 % |
| Average Shares | 3.40 | 3.40 | - |
| EPS (Riyals) | 2.66 | 4.67 | 75.3 % |
This was offset by higher cost of sales, increased general expenses, higher Zakat and taxes, in addition to recording loss share from an associate.
Shareholders’ equity, excluding minority interest, stood at SAR 48.11 million by the end of 2021, compared to SAR 33.57 million in the year-earlier period.
The company reported SAR 52.37 million in revenue from the restaurants and juice segment by the end of 2021, accounting for 41% of the company’s total revenue.
It also generated SAR 19.16 million in revenue from the ice cream business division, SAR 24.27 million from chocolates and SAR 31.94 million from the pastry segment.
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