Development Works Food Co. posted a net profit after Zakat and tax of SAR 748,000 for the first half of 2022, a decline of 72% compared to SAR 2.7 million a year earlier.
The firm attributed the profit decline to higher cost of income, especially in the first quarter of the current year, due to higher wages and higher prices of raw materials and packaging.
In Q2 2022, the company reported a net profit after Zakat and tax of SAR 3.04 million, up 19.3% from SAR 2.55 million a year before, driven by higher revenue.
Compared to the previous quarter, the firm turned to a net profit from a loss of SAR 2.26 million.
Current Quarter Comparison (M)
|Item||Q2 2021||Q2 2022||Change|
Total shareholders’ equity, after minority interest, reached SAR 33.312 million as on June 30, 2022, compared to SAR 32.564 million in year-earlier period.
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Development Works Food Co. (DWF)
|Market Cap (M Riyal)||558.00|
|Enterprise Value (EV) (M)||584.65|
|Book Value (BV) ( Riyal)||11.10|
|Adjusted P/E (Last12)||More than 50|
|P/E (TTM)||More than 50|
|Return on Average Assets (%) (TTM)||0.2|
|Return on Average Equity (%) (TTM)||0.5|
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