National Fertilizer posts 10% profit rise in H1 2021 to SAR 12.2 mln

31/08/2021 Argaam Exclusive

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National Fertilizer Co. (MOBI) posted a net profit after Zakat and tax of SAR 12.2 million in H1 2021, a rise of 10% compared with SAR 11.1 million a year earlier.

The company attributed the profit growth to a 5% increase in sales and a decrease in losses of bad debts of SAR 1.57 million, as well as lower financing expenses of SAR 347,862.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	96.03	86.90	(9.5 %)
Gross Income	31.35	27.44	(12.5 %)
Operating Income	11.35	12.35	8.9 %
Net Income	11.05	12.21	10.4 %
Average Shares	50.00	50.00	-
EPS (Riyals)	0.22	0.24	10.4 %

Shareholders' equity, excluding minority rights, amounted to SAR 66.29 million in H1 2021, compared to SAR 68.75 million in the same period last year.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2020	H1 2021	Change‬
Revenues	96.03	86.90	(9.5 %)
Gross Income	31.35	27.44	(12.5 %)
Operating Income	11.35	12.35	8.9 %
Net Income	11.05	12.21	10.4 %
Average Shares	50.00	50.00	-
EPS (Riyals)	0.22	0.24	10.4 %

Item	H2 2020	H1 2021	Change‬
Revenues	84.40	86.90	3.0 %
Gross Income	25.73	27.44	6.7 %
Operating Income	6.49	12.35	90.2 %
Net Income	6.33	12.21	92.9 %
Average Shares	50.00	50.00	-
EPS (Riyals)	0.13	0.24	92.9 %

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