Alwasail 2021 profit rises 10% to SAR 30.4 mln

14/03/2022 Argaam Exclusive

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Alwasail Industrial Co.
2.48
(0.01) (0.40 %)

Alwasail Industrial Co. (ALWASAIL INDUSTRIAL)

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Alwasail Industrial Co.’s net profit after Zakat and tax rose 10% to SAR 30.4 million in 2021, compared to SAR 27.7 million in 2020.



Financials (M)

Item 2020 2021 Change‬
Revenues 301.06 303.75 0.9 %
Gross Income 96.01 81.64 (15.0 %)
Operating Income 33.24 34.02 2.3 %
Net Income 27.66 30.39 9.9 %
Average Shares 250.00 250.00 -
EPS (Riyals) 0.11 0.12 9.9 %

The higher earnings were driven by increased sales, provisions efficiency and surging other income despite an upsurge in the cost of sales.



Total shareholders’ equity, excluding minority interest, rose to SAR 326.2 million in 2021 compared to SAR 295.8 million in the year-earlier period.

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