Saudi Arabian Fertilizers Co. (SAFCO) reported a net profit after Zakat and tax of SAR 303.5 million for the first quarter of 2020, a decline of 10% year-on-year (YoY), as compared to SAR 335 million in the same quarter last year.
The decrease in net profit was attributed to decline in average selling prices and lower profit share of Ibn Al-Baytar Company.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 718.68 | 728.37 | 1.3 % |
| Gross Income | 378.29 | 367.94 | (2.7 %) |
| Operating Income | 295.62 | 278.30 | (5.9 %) |
| Net Income | 335.47 | 303.50 | (9.5 %) |
| Average Shares | 416.67 | 416.67 | - |
| EPS (Riyals) | 0.81 | 0.73 | (9.5 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 845.58 | 728.37 | (13.9 %) |
| Gross Income | 430.94 | 367.94 | (14.6 %) |
| Operating Income | 344.08 | 278.30 | (19.1 %) |
| Net Income | 343.79 | 303.50 | (11.7 %) |
| Average Shares | 416.67 | 416.67 | - |
| EPS (Riyals) | 0.83 | 0.73 | (11.7 %) |
When compared to Q4 2019, net profit after Zakat and tax declined 10.2% on lower average selling prices and sales volumes.
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