Riyadh – Abdullah Saad Mohammed Abo Moati for Bookstores posted net profits after Zakat and tax of SAR 15.74 million in the first half (H1) of the fiscal year (FY) 2023/2024.

The net profits dropped by 8.06% year-on-year (YoY) in April-September 2023 from SAR 17.12 million, as shown in the income statements.

Earnings per share (EPS) fell to SAR 0.79 in H1-23/24, compared to SAR 0.86 in the same period of the previous year.

Revenues declined by 15.65% YoY to SAR 138.94 million in H1-23/24 from SAR 164.72 million.

Financial Results for Q2-23/24

In the second quarter (Q2) that ended on 30 September 2023, the Saudi company recorded a YoY increase of 1.87% in net profit to SAR 13.05 million from SAR 12.81 million.

Meanwhile, the revenues decreased by 12.50% to SAR 89.06 million in July-September 2023, compared to SAR 101.78 million in Q2 which ended on 30 September 2022.

Quarter-on-quarter (QoQ), the net profits in Q2-23/24 jumped by 385.13% from SAR 2.69 million in Q1 which ended on 30 June 2023, while the revenues grew by 78.51% from SAR 49.89 million.

It is worth mentioning that Abo Moat’s FY starts on 1 April and ends on 31 March of the following year.

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