The National Company for Glass Industries (Zoujaj) widened net loss after Zakat and tax to SAR 5.1 million in the first nine months of 2020, compared to a loss of SAR 3.3 million in the same period last year.
The decline was driven by lower profit share from associate and weak operating profit due to the fallout of COVID-19 pandemic.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 59.95 | 57.35 | (4.3 %) |
| Gross Income | 6.00 | 3.48 | (41.9 %) |
| Operating Income | (2.17) | (4.32) | (99.1 %) |
| Net Income | (3.36) | (5.15) | (53.4 %) |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | (0.10) | (0.16) | (53.4 %) |
The third-quarter net profit after Zakat and tax stood at SAR 2.6 million, versus net losses of SAR 6.57 million in year-earlier period, thanks to lower operating loss, higher sales, decreased cost of sales and higher profit share from associate.
When compared to previous quarter, Zoujaj turned to profit in Q3 from SAR 10.1 million loss in Q2 2020.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 13.58 | 16.22 | 19.4 % |
| Gross Income | (2.73) | 0.10 | 103.6 % |
| Operating Income | (5.22) | (2.81) | 46.2 % |
| Net Income | (6.57) | 2.64 | 140.1 % |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | (0.20) | 0.08 | 140.1 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 19.01 | 16.22 | (14.7 %) |
| Gross Income | 0.90 | 0.10 | (89.1 %) |
| Operating Income | (1.61) | (2.81) | (74.3 %) |
| Net Income | (10.07) | 2.64 | 126.2 % |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | (0.31) | 0.08 | 126.2 % |
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