Al-Jouf Agricultural Development Co.’s (Al Jouf) net profit after Zakat and tax rose slightly to SAR 6.6 million in the first quarter of 2020, compared to SAR 6.5 million in the year-earlier period.
The profit increase was driven by an improvement in profit margin, which lead to a 19.80% rise in total profit, despite 7.08% decline in sales volumes.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 49.64 | 46.13 | (7.1 %) |
| Gross Income | 16.00 | 19.16 | 19.8 % |
| Operating Income | 7.52 | 11.76 | 56.4 % |
| Net Income | 6.53 | 6.54 | 0.2 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.22 | 0.22 | 0.2 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 63.13 | 46.13 | (26.9 %) |
| Gross Income | 9.37 | 19.16 | 104.5 % |
| Operating Income | (5.12) | 11.76 | 329.6 % |
| Net Income | (22.06) | 6.54 | 129.7 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | (0.74) | 0.22 | 129.7 % |
The company turned to profit in Q1 2020, compared to a net loss before Zakat and tax of SAR 22.1 million in Q4 2019, thanks to a higher profit margin.
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