Financial Results : Astra’s net profit jumps 32% in FY19

Astra’s net profit jumps 32% in FY19

12/03/2020 Argaam Exclusive

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Astra Industrial Group’s net profit after Zakat and tax climbed 32% year-on-year (YoY) to SAR 29.7 million for the fiscal year 2019, driven by higher operating profit amid improved sales in the pharmaceuticals, and power and steel segments.

 

The annual figures were also buoyed by lower asset impairment provision in the pharmaceuticals, and power and steel segments, along with a decrease in general and administrative expenses

 

The reversal of excess Zakat provisions based on the settlements reached with the General Authority for Zakat and Tax (GAZT) reflected positively on Astra’s results.



Financials (M)

Item 2018 2019 Change‬
Revenues 1,796.90 1,867.11 3.9 %
Gross Income 711.95 738.35 3.7 %
Operating Income 135.74 196.17 44.5 %
Net Income 22.48 29.70 32.1 %
Average Shares 80.00 80.00 -
EPS (Riyals) 0.28 0.37 32.1 %

In Q4 2019, Astra’s net profit surged to SAR 19.6 million from SAR 7.7 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 478.34 456.36 (4.6 %)
Gross Income 186.25 178.94 (3.9 %)
Operating Income 55.81 48.09 (13.8 %)
Net Income 7.73 19.64 153.9 %
Average Shares 80.00 80.00 -
EPS (Riyals) 0.10 0.25 153.9 %

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