Riyadh – Mubasher: Saudi Marketing Company (Farm Superstores) registered a plunge of 47.5% in net profit after Zakat and tax at SAR 4.26 million during the January-March 2021 period, compared to SAR 8.11 million in the same quarter a year earlier.

Earnings per share stood at SAR 0.09 in the first quarter (Q1) of 2021, compared with SAR 0.18 in Q1-20, according to the initial income statements.

Sales declined 9.6% year-on-year (YoY) to SAR 417.45 million in Q1-21 from SAR 462.08 million in Q1-20.

On a quarterly basis, the Q1-21 net profit was 5% higher than SAR 4.04 million in Q4-20.

The sales achieved in Q1-21 were lower by almost 2% than SAR 425.49 million in Q4-20.