Baazeem Trading Co. reported a net profit after Zakat and tax of SAR 15.5 million for the first half of 2020, a 25% increase from SAR 12.4 million a year earlier, thanks to a 16.1% growth in sales.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 131.40 | 152.62 | 16.1 % |
| Gross Income | 42.58 | 48.87 | 14.8 % |
| Operating Income | 15.62 | 18.92 | 21.1 % |
| Net Income | 12.38 | 15.49 | 25.2 % |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 1.22 | 1.53 | 25.2 % |
The second-quarter net profit after Zakat and tax climbed by 23% year-on-year (YoY) to SAR 6.6 million, driven by higher sales amid better demand for the company’s products as the Kingdom’s residents stayed at home amid the COVID-19 outbreak.
When compared to previous quarter, net profit dropped 26% due to seasonal factors and the holy month of Ramadan.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 66.71 | 71.75 | 7.6 % |
| Gross Income | 21.18 | 22.84 | 7.9 % |
| Operating Income | 6.90 | 8.30 | 20.3 % |
| Net Income | 5.36 | 6.59 | 22.9 % |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.53 | 0.65 | 22.9 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 80.87 | 71.75 | (11.3 %) |
| Gross Income | 31.05 | 22.84 | (26.4 %) |
| Operating Income | 10.62 | 8.30 | (21.9 %) |
| Net Income | 8.91 | 6.59 | (26.0 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.88 | 0.65 | (26.0 %) |
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