Riyadh – Mubasher: Abdullah Saad Mohammed Abo Moati for Bookstores Company achieved net profits after Zakat and tax worth SAR 1.91 million in the first quarter (Q1) that ended on 30 June 2021, against a net loss of SAR 1.8 million in the same period a year ago.

Abo Moati posted earnings per share of SAR 0.1 in the first three months of fiscal year (FY) 2021/2022, against a loss per share of SAR 0.09 in Q1-20/21, according to the financial results on Tuesday.

Sales increased by 25.4% to SAR 45.38 million in Q1-21/22 from SAR 36.16 million in the April-June 2020 period.

On a quarterly basis, the net profits in Q1-21/22 jumped by 130% from SAR 830,000 in the fourth quarter (Q4) of FY20/21 that ended on 31 March this year.

Sales meanwhile shrank by 31.6% in Q1-21/22 from SAR 66.36 million in Q4-20/21.

Abo Moati’s financial results for the full FY20/21 that ended last March showed lower net profits of SAR 5.33 million, compared to SAR 13.87 million in the prior FY.