Riyadh – Mubasher: The net profits after Zakat and tax of Almarai Company declined by 34.18% to SAR 409.1 million in the third quarter (Q3) of 2021, compared to SAR 621.5 million in the same quarter of 2020.
Lower profits are driven by the base year effect of coronavirus (COVID-19), rising commodity costs, and lower core product revenues by 3% within the GCC countries, according to a bourse filing on Sunday.
The company generated revenues of SAR 3.941 billion in Q3-21, up 2.034% from SAR 3.863 billion in the year-ago period.
Meanwhile, the earnings before interest, taxes, and zakat, depreciation, and amortization (EBITDA) recorded SAR 879.1 million in Q3-21, down 23.7% from SAR 1.151 billion in Q3-20.
During the first nine months of 2021, the company's net profits after Zakat and tax decreased by 22.54% to SAR 1.277 billion from SAR 1.648 billion in the year-ago period.
The company's revenues inched up by 0.475% to SAR 11.592 billion in the January-September period of 2021 from SAR 11.537 billion in the corresponding period of 2020.
The earnings per share (EPS) settled at SAR 1.3 in the first nine months of 2021, compared to SAR 1.68 in the year-ago period.
