Saudi Marketing Co. (Farm Superstores) reported a leap of 31% in net profit after Zakat and tax to SAR 16.1 million for the first nine months of 2022, from SAR 12.3 million in the year-earlier period, thanks to higher revenue.
The retailer reported an increase in revenue from the high-margin entertainment segment for the current period compared to the first nine months of 2021. The higher profit came despite a year-on-year (YoY) increase of SAR 18.3 million in selling and distribution expenses.
In Q3 2022, net profit after Zakat and tax climbed 29% to SAR 4.5 million, from SAR 3.50 million a year earlier. Revenue grew by SAR 35.5 million YoY. Further, Farm Superstores recorded better revenue from the high-margin entertainment segment despite increased selling and distribution expenses.
Compared to Q2 2022, net profit dropped 16% from SAR 5.38 million hit by a decline of SAR 21.9 million in revenue due to summer vacations.
Current Quarter Comparison (M)
|Item||Q3 2021||Q3 2022||Change|
Total shareholders’ equity, after minority interest, rose to SAR 650.893 million by the end of the nine-month period, from SAR 627.184 million a year earlier.
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Saudi Marketing Co. (FARM SUPERSTORES)
|Market Cap (M Riyal)||958.50|
|Enterprise Value (EV) (M)||1,447.92|
|Book Value (BV) ( Riyal)||14.46|
|Adjusted P/E (Last12)||39.01|
|Return on Average Assets (%) (TTM)||1.1|
|Return on Average Equity (%) (TTM)||3.8|
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