Financial Results : SVCP profit rises to SAR 9.2 mln in 9M 2020

SVCP profit rises to SAR 9.2 mln in 9M 2020

18/10/2020 Argaam Exclusive

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Saudi Vitrified Clay Pipes Co. (SVCP)  reported a net profit after Zakat and tax of SAR 9.2 million for the first nine months of 2020, a more than twofold increase, compared to SAR 3.7 million in the same period last year, driven by increased sales revenue.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 82.02 96.67 17.9 %
Gross Income 23.45 31.39 33.8 %
Operating Income 6.24 11.56 85.2 %
Net Income 3.68 9.18 149.3 %
Average Shares 15.00 15.00 -
EPS (Riyals) 0.25 0.61 149.3 %


Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 28.36 28.09 (1.0 %)
Gross Income 7.85 8.00 1.9 %
Operating Income 2.45 1.83 (25.4 %)
Net Income 1.45 0.91 (37.6 %)
Average Shares 15.00 15.00 -
EPS (Riyals) 0.10 0.06 (37.6 %)

Net profit after Zakat and tax for the third quarter retreated by 38% YoY to nearly SAR 910,000, due to higher operating expenses.

 

On a quarter-on-quarter basis, the profit for the current quarter plunged 68.1%, on higher cost of sales.

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