Alwasail 2021 profit rises 10% to SAR 30.4 mln

14/03/2022 Argaam Exclusive

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Alwasail Industrial Co.’s net profit after Zakat and tax rose 10% to SAR 30.4 million in 2021, compared to SAR 27.7 million in 2020.

Financials (M)

Item	2020	2021	Change‬
Revenues	301.06	303.75	0.9 %
Gross Income	96.01	81.64	(15.0 %)
Operating Income	33.24	34.02	2.4 %
Net Income	27.66	30.39	9.9 %
Average Shares	250.00	250.00	-
EPS (Riyals)	0.11	0.12	9.9 %

The higher earnings were driven by increased sales, provisions efficiency and surging other income despite an upsurge in the cost of sales.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2020	H2 2021	Change‬
Revenues	151.98	163.45	7.5 %
Gross Income	52.93	45.02	(14.9 %)
Operating Income	11.98	16.30	36.0 %
Net Income	10.57	16.09	52.2 %
Average Shares	250.00	250.00	-
EPS (Riyals)	0.04	0.06	52.2 %

Item	H1 2021	H2 2021	Change‬
Revenues	140.30	163.45	16.5 %
Gross Income	36.62	45.02	22.9 %
Operating Income	17.72	16.30	(8.0 %)
Net Income	14.30	16.09	12.6 %
Average Shares	250.00	250.00	-
EPS (Riyals)	0.06	0.06	12.6 %

Total shareholders’ equity, excluding minority interest, rose to SAR 326.2 million in 2021 compared to SAR 295.8 million in the year-earlier period.

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