Herfy Food Services’ profits down to $18.53mln in 9M-22

Riyadh – Herfy Food Services Company posted an annual plunge of 38.02% in net profit after Zakat and tax to SAR 69.53 million during the first nine months (9M) of 2022 from SAR 112.20 million.

The company’s revenues amounted to SAR 929.32 million in the January-September 2022 period, an annual drop of 5.62% from SAR 984.70 million, according to the interim income statements.

Earnings per share (EPS) stood at SAR 1.08 in 9M-22, lower than SAR 1.73 in 9M-21.

During the third quarter (Q3) of 2022, the Saudi listed firm logged net profits after Zakat and tax worth SAR 20.94 million, down 65.12% year-on-year (YoY) from SAR 60.06 million.

Revenues declined by 12.12% YoY to SAR 309.51 million in Q3-22 from SAR 352.21 million.

On a quarterly basis, the net profits after Zakat and tax in Q3-22 rose by 3.71% from SAR 20.19 million in Q2-22, whereas the revenues grew by 6.14% from SAR 291.61 million.

In the first half (H1) of 2022, Herfy Food Services generated SAR 48.59 million in net profit after Zakat and tax, a slide of 6.81% from SAR 52.14 million in H1-21.

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