اعلان شركة أسواق عبدالله العثيم عن النتائج المالية الأولية للفترة المنتهية في 2021-09-30 ( تسع

A4001 A.OTHAIM MARKET-0.8 (-0.69 %)
1443/04/05 Wed Nov 10, 2021 08:03:11

Abdullah Al Othaim Markets Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

Share this: Facebook TwitterLinkedIn

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	1,996.75	1,812.81	10.146	2,171.27	-8.037
Gross Profit (Loss)	400.04	411.63	-2.815	400.49	-0.112
Operational Profit (Loss)	56.25	77.17	-27.108	55.4	1.534
Net Profit (Loss) after Zakat and Tax	44.87	60.69	-26.066	47.93	-6.384
Total Comprehensive Income	41.6	58.78	-29.227	50.56	-17.721
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	6,265.17	6,766.73	-7.412
Gross Profit (Loss)	1,219.75	1,383.1	-11.81
Operational Profit (Loss)	177.92	335.7	-47
Net Profit (Loss) after Zakat and Tax	150.48	285.5	-47.292
Total Comprehensive Income	145.93	279.06	-47.706
Total Share Holders Equity (after Deducting Minority Equity)	1,220.26	1,361.5	-10.373
Profit (Loss) per Share	1.67	3.17
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	Sales growth by 10.15% from existing and new branches. while the third quarter of the previous year witnessed notable drop in sales after raising VAT to15%, the sales in current quarter started to return to the normal levels. Gross margin dropped down due to the hard promotions and the change in consumers behavior by focusing on discounted goods. In addition, G&A expenses increased due to recording advisory fees for the acquisition transaction related to the Fourth Milling Company and for enhancing competencies in senior positions, while the company benefited from government initiatives in the third quarter last year. On the other hand, the real estate activity was positively affected after witnessing a decline in the same quarter last year. Also, the performance of the subsidiaries and associates improved as they were affected by the preventive measures in the third quarter last year.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is	Sales decline by 8.04% as a result of the Ramadan season in the previous quarter, despite the decrease in gross margin and the recovery of the real estate activity.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	Sales decline by 7.41%, where the first half of previous year witnessed high demand for buying as a precaution to the preventive measures to limit the Corona virus outbreak. In addition to the high demand before raising VAT on 01/07/2020. Gross margin dropped down due to the increase in promotions and the change in consumers behavior by focusing on discounted goods. In addition, G&A expenses increased due to recording advisory fees for the acquisition transaction related to the Fourth Milling Company and for enhancing competencies in senior positions, while the company benefited from government initiatives in the same period last year. On the other hand, the real estate activity was positively affected after witnessing a decline in the same period last year. Also, the performance of the subsidiaries and associates improved as they were affected by the preventive measures in the same period last year.
Statement of the type of external auditor's report	Unmodified conclusion
Reclassification of Comparison Items	Some comparative figures have been restated to be consistent with the presentation of the current period.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.