National Gypsum Co. posted a net profit after Zakat and tax of SAR 19.9 million for the first half of 2021, down 13% compared to SAR 22.9 million in the same period last year.
The profit decline was attributed to an 11.31% year-on-year (YoY) decrease in net sales, and 16.81% YoY increase in administrative and selling expenses.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 52.85 | 46.88 | (11.3 %) |
| Gross Income | 28.60 | 23.09 | (19.3 %) |
| Operating Income | 24.53 | 18.34 | (25.3 %) |
| Net Income | 22.90 | 17.45 | (23.8 %) |
| Average Shares | 31.67 | 31.67 | - |
| EPS (Riyals) | 0.72 | 0.55 | (23.8 %) |
The Q2 2021 net profit after Zakat and tax rose 10% YoY to SAR 5.7 million due to higher net revenue.
On a sequential basis, Q2 net profit slumped 60% from SAR 14.2 million.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 17.86 | 19.87 | 11.3 % |
| Gross Income | 7.85 | 8.52 | 8.5 % |
| Operating Income | 5.82 | 6.03 | 3.7 % |
| Net Income | 5.18 | 5.68 | 9.7 % |
| Average Shares | 31.67 | 31.67 | - |
| EPS (Riyals) | 0.16 | 0.18 | 9.7 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 27.01 | 19.87 | (26.4 %) |
| Gross Income | 14.58 | 8.52 | (41.6 %) |
| Operating Income | 12.31 | 6.03 | (51.0 %) |
| Net Income | 11.76 | 5.68 | (51.7 %) |
| Average Shares | 31.67 | 31.67 | - |
| EPS (Riyals) | 0.37 | 0.18 | (51.7 %) |
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