Herfy Food reports 11% profit surge to SR28 mln in 1Q

Herfy Food Service Company announced that its profits after zakat and tax rose 11% to SR 28 million in the first quarter of 2022 compared to 25 million during the same period of 2021.

This came after Herfy announcement on Thursday of the preliminary financial results for the period ending on 31.03.2022 (three months).

The company’s operational profit surged 3% to SR 35 million in the 1^st quarter of the current year from SR 34 million in the same period of the previous year.

Gross profit of Herfy soared 0.5% to SR 83 million in the first quarter of this year from SR 82 million a year ago, while the profit per share advanced to SR 0.44 from SR 0.39.

The reason for increase of the net profit for the first Quarter 2022 compared to the same quarter 2021 due to the increase of Sales by 5.5 % and increase of the other Income also the decrease of General and Administration Expenses, and finance cost and Zakat Expenses , despite of the increase of the selling and marketing expenses.

The reason for decrease of the net profit for the first Quarter 2022 compared to the previous Quarter 2021 due to the decrease of the other income , and the increase of General and Administration Expenses, and Zakat Expenses , despite of the decrease of the selling and marketing expenses and finance cost.