Basic Chemical Industries Co. (BCI) reported a net profit after Zakat and tax of SAR 29 million for the first half of 2021, down 4.3% from SAR 30.4 million in the same period a year earlier.
The company attributed the profit drop to lower sales and other operating income, and higher general and administrative expenses.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 272.10 | 244.69 | (10.1 %) |
| Gross Income | 70.76 | 74.08 | 4.7 % |
| Operating Income | 34.40 | 33.99 | (1.2 %) |
| Net Income | 21.09 | 15.56 | (26.2 %) |
| Average Shares | 27.50 | 27.50 | - |
| EPS (Riyals) | 0.77 | 0.57 | (26.2 %) |
BCI reported 4.4% year-on-year (YoY) decline in Q2 2021 net profit after Zakat and tax to SAR 14.6 million, driven by lower sales.
When compared to the previous quarter, net profit rose marginally by 1.5% on lower Zakat and income tax expenses.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 131.14 | 118.60 | (9.6 %) |
| Gross Income | 34.78 | 36.77 | 5.7 % |
| Operating Income | 17.17 | 16.33 | (4.9 %) |
| Net Income | 10.66 | 8.13 | (23.8 %) |
| Average Shares | 27.50 | 27.50 | - |
| EPS (Riyals) | 0.39 | 0.30 | (23.8 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 126.10 | 118.60 | (5.9 %) |
| Gross Income | 37.31 | 36.77 | (1.5 %) |
| Operating Income | 17.66 | 16.33 | (7.6 %) |
| Net Income | 7.43 | 8.13 | 9.4 % |
| Average Shares | 27.50 | 27.50 | - |
| EPS (Riyals) | 0.27 | 0.30 | 9.4 % |
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