Bawan Co. reported net profit after Zakat and tax of SAR 30.7 million for the first half of 2020, a hike of 70% year-on-year (YoY), driven by lower operating expenses and higher gross profit.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 1,115.98 | 1,165.05 | 4.4 % |
| Gross Income | 130.12 | 141.45 | 8.7 % |
| Operating Income | 35.99 | 50.42 | 40.1 % |
| Net Income | 18.07 | 30.67 | 69.7 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.30 | 0.51 | 69.7 % |
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 519.17 | 520.90 | 0.3 % |
| Gross Income | 58.94 | 61.21 | 3.8 % |
| Operating Income | 12.47 | 18.76 | 50.4 % |
| Net Income | 3.03 | 15.46 | 410.9 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.05 | 0.26 | 410.9 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 644.14 | 520.90 | (19.1 %) |
| Gross Income | 80.24 | 61.21 | (23.7 %) |
| Operating Income | 31.66 | 18.76 | (40.8 %) |
| Net Income | 15.21 | 15.46 | 1.7 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.25 | 0.26 | 1.7 % |
Net profit after Zakat and tax for the second quarter rose more than five-fold YoY to SAR 15.5 million, due to higher gross profit, increased profit margins, and lower operating expenses.
On a quarter-on-quarter basis, the profit for the current quarter increased by 1.7%.
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