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Dullah Al-Othaim Markets profit misses consensus by 21.2% in Q1


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Dullah Al-Othaim Markets profit misses consensus by 21.2% in Q1

Abdullah Al-Othaim Markets Co. said its first-quarter normalized net income was 95 halalas per share, compared with the S&P Capital IQ consensus estimate of 1.21 riyals per share.

EPS rose 37.1% year over year from 70 halalas.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 42.9 million riyals, an increase of 37.1% from 31.3 million riyals in the year-earlier period.

The normalized profit margin fell to 1.9% from 2.2% in the year-earlier period.

Total revenue climbed 16.5% year over year to 1.64 billion riyals from 1.41 billion riyals, and total operating expenses climbed 16.4% year over year to 1.59 billion riyals from 1.37 billion riyals.

Reported net income declined year over year to 47.0 million riyals, or 1.04 riyals per share, from 48.9 million riyals, or 1.09 riyals per share.

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