Saudi Company for Hardware (SACO) reported a net profit after Zakat and tax of SAR 61.6 million for the fiscal year 2019, a 37% decline year-on-year (YoY) compared to SAR 97.9 million the year before.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 1,390.47 | 1,457.76 | 4.8 % |
| Gross Income | 249.91 | 281.66 | 12.7 % |
| Operating Income | 112.36 | 107.66 | (4.2 %) |
| Net Income | 97.88 | 61.64 | (37.0 %) |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 2.72 | 1.71 | (37.0 %) |
The decline is attributed to an increase in selling and marketing costs, higher general and administrative expenses, and rise in finance costs due to the adoption of IFRS 16.
In Q4 2019, the company posted an 84.3% YoY drop in net profit to SAR 6 million.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 385.61 | 392.08 | 1.7 % |
| Gross Income | 76.72 | 85.84 | 11.9 % |
| Operating Income | 42.87 | 18.48 | (56.9 %) |
| Net Income | 38.48 | 6.06 | (84.3 %) |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 1.07 | 0.17 | (84.3 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 351.61 | 392.08 | 11.5 % |
| Gross Income | 67.13 | 85.84 | 27.9 % |
| Operating Income | 26.45 | 18.48 | (30.1 %) |
| Net Income | 14.65 | 6.06 | (58.6 %) |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 0.41 | 0.17 | (58.6 %) |
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