Financial Results : SVCP profit rises over threefold to SAR 5.4 mln in Q1 2020

SVCP profit rises over threefold to SAR 5.4 mln in Q1 2020

11/06/2020 Argaam Exclusive

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Saudi Vitrified Clay Pipes Co. (SVCP) reported a net profit after Zakat and tax of SAR 5.4 million for Q1 2020, a rise of over threefold year-on-year (YoY), from SAR 1.6 million, thanks to higher sales, as well as a decline in the cost of sales and operating expenses.

When compared to the previous quarter, the pipe manufacturer’s net profit grew by 6.2%, driven by lower operating expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 30.13 40.55 34.6 %
Gross Income 8.26 13.35 61.6 %
Operating Income 2.42 6.10 151.7 %
Net Income 1.60 5.41 237.7 %
Average Shares 15.00 15.00 -
EPS (Riyals) 0.11 0.36 237.7 %

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