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Fawaz Abdulaziz AlHokair profit misses consensus by 67.0% in fiscal Q3

Fawaz Abdulaziz AlHokair & Co. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 27 halalas per share, compared with the S&P Capital IQ consensus estimate of 83 halalas per share.

EPS declined 18.0% year over year from 33 halalas.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 57.5 million riyals, a decline of 18.0% from 70.2 million riyals in the year-earlier period.

The normalized profit margin climbed to 5.8% from 4.5% in the year-earlier period.

Total revenue totaled 1.54 billion riyals, compared with 1.55 billion riyals in the prior-year period, and total operating expenses totaled 1.43 billion riyals, compared with 1.42 billion riyals in the prior-year period.

Reported net income declined 14.1% year over year to 91.2 million riyals, or 43 halalas per share, from 106.2 million riyals, or 51 halalas per share.

As of Jan. 27, US$1 was equivalent to 3.75 Saudi Arabian riyals.