Baazeem Trading Co. reported a net profit after Zakat and tax of SAR 14.7 million for the first half of 2021, down 5% from SAR 15.5 million in the year-earlier period.
The company attributed the lower profit to a decline of 8.87% year-on-year (YoY) in sales.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 152.62 | 139.21 | (8.8 %) |
| Gross Income | 48.87 | 54.27 | 11.0 % |
| Operating Income | 18.92 | 17.32 | (8.4 %) |
| Net Income | 15.49 | 14.69 | (5.2 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 1.53 | 1.45 | (5.2 %) |
In Q2 2021, net profit after Zakat and tax fell by 25% YoY to SAR 4.9 million, hurt by a drop of 17.25% YoY in sales.
Baazeem’s net profit after Zakat and tax almost halved from SAR 9.8 million in Q1 2021.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 71.75 | 59.38 | (17.2 %) |
| Gross Income | 22.84 | 25.18 | 10.2 % |
| Operating Income | 8.30 | 6.01 | (27.5 %) |
| Net Income | 6.59 | 4.91 | (25.5 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.65 | 0.48 | (25.5 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 79.84 | 59.38 | (25.6 %) |
| Gross Income | 29.09 | 25.18 | (13.4 %) |
| Operating Income | 11.31 | 6.01 | (46.8 %) |
| Net Income | 9.78 | 4.91 | (49.8 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.97 | 0.48 | (49.8 %) |
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