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Herfy Food Services’ profits jump 11.5% in Q1-22 initial financials

Herfy Food Services’ profits jump 11.5% in Q1-22 initial financials
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HERFY FOODS
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Riyadh – Mubasher: Herfy Food Services Company has logged net profits after Zakat and tax worth SAR 28.39 million in the first quarter (Q1) of 2022, an annual surge of 11.47% from SAR 25.46 million.

In the first three months (3M) of 2022, the revenues increased by 5.49% to SAR 328.19 million from SAR 311.11 million in Q1-21, according to the interim financials on Thursday.

Meanwhile, the earnings per share (EPS) rose to SAR 0.44 in Q1-22 from SAR 0.39 in Q1-21.

On a quarterly basis, the company's revenues in Q1-22 edged down by 0.29% from SAR 329.15 million in Q4-21, while the net profits plunged by 41.61% from SAR 48.63 million.

In 2021, the Saudi listed firm recorded a 204.39% year-on-year (YoY) leap in net profits after Zakat and tax to SAR 160.83 million from SAR 52.83 million.