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Herfy Food Services’ H1-22 profit falls 7%

Herfy Food Services’ H1-22 profit falls 7%
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Riyadh – Mubasher: Herfy Food Services Company has posted a 6.81% year-on-year (YoY) drop in its net profit after Zakat and tax to SAR 48.59 million during the first half (H1) of 2022, compared to SAR 52.14 million.

Revenues declined by 2% YoY to SAR 619.80 million in H1-22 from SAR 632.48 million, according to the interim financial results on Wednesday.

Meanwhile, the earnings per share (EPS) settled at SAR 0.75 during the first six months (6M) of 2022, lower than SAR 0.81 in the year-ago period.

In the second quarter (Q2) of 2022, the Tadawul-listed firm registered SAR 20.19 million in net profit after Zakat and tax, an annual plunge of 24.27% from SAR 26.67 million. 

Furthermore, the company’s revenues amounted to SAR 291.61 million in Q2-22, down 9.26% from SAR 321.36 million during the same period a year earlier.

During the January-March 2022 period, Herfy Food Services recorded net profits after Zakat and tax worth SAR 28.39 million, higher by 11.47% than SAR 25.46 million in Q1-21.