Zahrat Al Waha for Trading Co. reported a net profit after Zakat and tax of SAR 20.3 million for the first quarter of 2021, a rise of 57%, from SAR 12.9 million in the year-earlier period.
The profit increase was due to a decline in the cost of sales, selling and distribution expenses, finance costs, and an increase in investment profits and non-activity revenues.
On a sequential basis, net profit after Zakat and tax rose by 46.8%, driven by higher sales, lower selling and distribution expenses, as well as higher investment profits.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 123.65 | 118.14 | (4.5 %) |
| Gross Income | 20.95 | 22.64 | 8.1 % |
| Operating Income | 16.44 | 17.98 | 9.4 % |
| Net Income | 12.91 | 20.32 | 57.4 % |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.57 | 0.90 | 57.4 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 91.05 | 118.14 | 29.8 % |
| Gross Income | 23.64 | 22.64 | (4.2 %) |
| Operating Income | 20.10 | 17.98 | (10.6 %) |
| Net Income | 13.84 | 20.32 | 46.8 % |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.62 | 0.90 | 46.8 % |
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