Riyadh – Mubasher: Herfy Food Services Company registered net profits after Zakat and tax amounting to SAR 2.76 million in the first nine months (9M) of 2023, an annual drop of 95.61% from SAR 62.83 million.
Revenues went down by 7.23% year-on-year (YoY) to SAR 876.38 million in 9M-23 from SAR 944.64 million, according to the financial results.
The earnings per share (EPS) stood at SAR 0.04 as of 30 September 2023, compared to SAR 0.97 in the year-ago period.
Financial Results for Q3-23
During the third quarter (Q3) of 2023, the company achieved a 44.39% plunge in net profit after Zakat and tax to SAR 11.04 million, versus SAR 19.85 million in Q3-22.
Herfy posted revenues amounting to SAR 313.04 million during July-September 2023, down 0.80% YoY from SAR 315.56 million.
On a quarterly basis, the Q3-23 net profits hiked by 143.38% from SAR 4.53 million in Q2-23, while the revenues climbed by 8.61% from SAR 288.22 million.
Last year, the listed firm generated SAR 3.54 million in net profit after Zakat and tax, lower by 97.66% than SAR 151.79 million in 2021.
