Middle East Paper Co. (MEPCO) reported net profit after Zakat and tax of SAR 17.7 million in Q1 2021, a more than four-fold increase, from SAR 4.12 million in prior-year period.
This profit hike was attributed to higher selling prices, lower cost of finance, higher other income.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 173.87 | 200.51 | 15.3 % |
| Gross Income | 35.61 | 48.01 | 34.8 % |
| Operating Income | 10.59 | 18.03 | 70.2 % |
| Net Income | 4.12 | 17.72 | 329.7 % |
| Average Shares | 66.67 | 66.67 | - |
| EPS (Riyals) | 0.06 | 0.27 | 329.7 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 189.72 | 200.51 | 5.7 % |
| Gross Income | 37.65 | 48.01 | 27.5 % |
| Operating Income | 11.36 | 18.03 | 58.7 % |
| Net Income | 4.43 | 17.72 | 300.5 % |
| Average Shares | 66.67 | 66.67 | - |
| EPS (Riyals) | 0.07 | 0.27 | 300.5 % |
On a sequential basis, Q1 2021 net profit surged by 319%, on lower Zakat expenses.
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