Herfy’s initial financials show profits in Q3

Herfy Food Services Company recorded a 45% year-on-year (YoY) increase in profits

Riyadh – Mubasher: Herfy Food Services Company recorded a 45% year-on-year (YoY) increase in profits to SAR 60.06 million during the third quarter (Q3) of 2021 from SAR 41.37 million.

Revenues increased by 13% YoY to SAR 352.21 million in Q3-21 from SAR 311.11 million in Q3-20, according to the interim financial results on Tuesday.

Quarter-on-quarter (QoQ), the net profits in the July-September 2021 period were 125% higher than SAR 26.67 million in Q2-21. The revenues also grew by 9.5% from SAR 321.36 million.

During the first nine months of 2021, Herfy recorded a leap of 247.67% YoY in net profits to SAR 112.2 million from SAR 32.27 million.

Earnings per share also rose to SAR 1.73 at the end of September this year from SAR 0.5 in the same period in 2020.

Revenues soared by 26.5% YoY to SAR 984.7 million in the January-September 2021 period from SAR 778.14 million.

Source: Mubasher

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