Herfy Food Services Full Year 2023 Earnings: Misses Expectations

Herfy Food Services (TADAWUL:6002) Full Year 2023 Results

Key Financial Results

• Revenue: ر.س1.17b (down 5.6% from FY 2022).
• Net income: ر.س8.39m (up 137% from FY 2022).
• Profit margin: 0.7% (up from 0.3% in FY 2022). The increase in margin was driven by lower expenses.
• EPS: ر.س0.13 (up from ر.س0.055 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Herfy Food Services Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 49%.

Looking ahead, revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Saudi Arabia.

Performance of the Saudi Hospitality industry.

The company's shares are down 1.9% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Herfy Food Services' balance sheet and an in-depth analysis of the company's financial position.

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