Basic Chemical Industries Co. (BCI) reported a net profit after Zakat and tax of SAR 45.1 million for the first nine months of 2020, up 1.4%, compared to a profit of SAR 44.5 million in the same period a year earlier.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 402.49 | 387.26 | (3.8 %) |
| Gross Income | 102.35 | 102.95 | 0.6 % |
| Operating Income | 48.48 | 50.76 | 4.7 % |
| Net Income | 31.09 | 30.44 | (2.1 %) |
| Average Shares | 27.50 | 27.50 | - |
| EPS (Riyals) | 1.13 | 1.11 | (2.1 %) |
The company attributed the increase in net profit to lower cost of sales, driven by lower general and administrative expenses and, selling and marketing expenses.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 141.39 | 115.16 | (18.6 %) |
| Gross Income | 38.86 | 32.19 | (17.2 %) |
| Operating Income | 20.86 | 16.36 | (21.6 %) |
| Net Income | 15.29 | 9.36 | (38.8 %) |
| Average Shares | 27.50 | 27.50 | - |
| EPS (Riyals) | 0.56 | 0.34 | (38.8 %) |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 131.14 | 115.16 | (12.2 %) |
| Gross Income | 34.78 | 32.19 | (7.4 %) |
| Operating Income | 17.17 | 16.36 | (4.7 %) |
| Net Income | 10.66 | 9.36 | (12.3 %) |
| Average Shares | 27.50 | 27.50 | - |
| EPS (Riyals) | 0.39 | 0.34 | (12.3 %) |
The company reported a net profit of SAR 14.8 million for the third quarter of 2020, a 26% year-on-year (YoY) decline, on lower sales and other revenue and higher income tax.
When compared to previous quarter, net profit fell 3.7% in Q3 2020 on lower sales.
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