Al Naqool reports SAR 4 mln net profit in H1 2021

23/08/2021 Argaam Exclusive

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Mohammed Hasan AlNaqool Sons Co. reported net profit after Zakat and tax of SAR 4 million for the first six months of 2021, an increase of more than two-fold, compared to SAR 1.5 million in year-earlier period.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	18.80	23.25	23.6 %
Gross Income	2.82	6.04	114.2 %
Operating Income	1.57	4.16	165.0 %
Net Income	1.52	4.04	166.2 %
Average Shares	2.90	2.90	-
EPS (Riyals)	0.52	1.39	166.2 %

The profit increase was driven by higher revenue from increased sales, in addition to easing the precautionary measures related to the COVID-19 lockdown in the Kingdom.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2020	H1 2021	Change‬
Revenues	18.80	23.25	23.6 %
Gross Income	2.82	6.04	114.2 %
Operating Income	1.57	4.16	165.0 %
Net Income	1.52	4.04	166.2 %
Average Shares	2.90	2.90	-
EPS (Riyals)	0.52	1.39	166.2 %

Item	H2 2020	H1 2021	Change‬
Revenues	26.03	23.25	(10.7 %)
Gross Income	7.39	6.04	(18.2 %)
Operating Income	5.02	4.16	(17.1 %)
Net Income	4.96	4.04	(18.5 %)
Average Shares	2.90	2.90	-
EPS (Riyals)	1.71	1.39	(18.5 %)

Shareholders' equity, excluding minority rights, stood at SAR 35.96 million in H1 2021, a 25.3% YoY increase.

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