Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Company (Cenomi Retail) shifted to net losses after Zakat and tax worth SAR 198.80 million during the first nine months (9M) of fiscal year (FY) 2022/2023.

The incurred losses were registered against net profits of SAR 82.60 million in 9M-21/22, according to the initial financial results.

Cenomi Retail generated revenues worth SAR 4.53 billion in the April-December 2022 period, up 0.21% year-on-year (YoY) from SAR 4.52 billion.

The loss per share stood at SAR 1.74 in 9M-22/23, against earnings per share (EPS) of SAR 0.74 in the year-ago period.

Income Statements for Q3-22/23

During the third quarter (Q3) of FY22/23, the Saudi company turned to net losses after Zakat and tax worth SAR 279.80 million, versus net profits of SAR 16 million in Q3-21/22.

Revenues edged down by 0.46% YoY to SAR 1.45 billion in the three-month period that ended on 31 December 2022, compared to SAR 1.46 billion.

On a quarterly basis, Cenomi Retail also swung to net losses in Q3-22/23 against net profits of SAR 23.30 million in Q2-22/23. Meanwhile, the revenues increased by 6.32% from SAR 1.37 billion.

In the first half (H1) of FY22/23, the listed firm logged net profits after Zakat and tax worth SAR 81 million, higher by 21.62% YoY than SAR 66.60 million.

It is worth noting that the company altered its trading name on the Saudi Exchange (Tadawul) from Alhokair to Cenomi Retail last December.