Al Othaim Markets records net profits in nine months

Riyadh – Mubasher: Abdullah Al Othaim Markets Company achieved net profits after Zakat and tax standing at SAR 150.48 million during the first nine months of 2021, lower by 47% than SAR 285.5 million in the same period last year.

Earnings per share went down to SAR 1.67 at the end of September this year from SAR 3.17 in the same period in 2020, according to the initial financial results on Wednesday.

Sales shrank by 7.4% to SAR 6.26 billion in January-September 2021 from SAR 6.76 billion in the corresponding nine months a year earlier.

During the third quarter (Q3) of 2021, Al Othaim Markets posted 26% lower net profits at SAR 44.87 million from SAR 60.69 million in Q3-20.

Sales meanwhile soared by 10% to SAR 1.99 billion in Q3-21 from SAR 1.81 billion in Q3-20.

On a quarterly basis, the net profits in Q3-21 decreased 6% from SAR 47.93 million in Q2-21, and the revenues narrowed 8% from SAR 2.17 billion.

Source: Mubasher

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