Al Naqool net profit up 4% to SAR 6.5 mln in 2020

21/06/2021 Argaam Exclusive

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Mohammed Hasan Al Naqool Sons Co., which was recently listed on Nomu – Parallel Market, reported a net profit of SAR 6.48 million for 2020, a 3.6% increase, compared to SAR 6.25 million in 2019.

Financials (M)

Item	2019	2020	Change‬
Revenues	34.35	44.84	30.5 %
Gross Income	8.59	10.21	18.8 %
Operating Income	6.32	6.58	4.1 %
Net Income	6.25	6.48	3.6 %
Average Shares	2.90	2.90	-
EPS (Riyals)	2.16	2.23	3.6 %

The company attributed increase in net profit to higher revenue and lower financing charge, despite increase in cost of sales, general and administrative expenses and increased Zakat provision for 2020.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2019	H2 2020	Change‬
Revenues	17.60	26.03	47.9 %
Gross Income	5.55	7.39	33.0 %
Operating Income	4.22	5.02	18.8 %
Net Income	3.85	4.96	28.8 %
Average Shares	2.90	2.90	-
EPS (Riyals)	1.33	1.71	28.8 %

Item	H1 2020	H2 2020	Change‬
Revenues	18.80	26.03	38.5 %
Gross Income	2.82	7.39	161.9 %
Operating Income	1.57	5.02	219.7 %
Net Income	1.52	4.96	226.6 %
Average Shares	2.90	2.90	-
EPS (Riyals)	0.52	1.71	226.6 %

Shareholders’ equity, excluding minority interest, stood at SAR 41.02 million as of Dec. 31, 2020, compared to SAR 34.44 million a year earlier.

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