Financial Results : Shaker turns to net profit of SAR 9.5 mln in 2020

Shaker turns to net profit of SAR 9.5 mln in 2020

21/03/2021 Argaam Exclusive

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Al-Hassan Ghazi Ibrahim Shaker Co. (Shaker) reported a net profit of SAR 9.5 million for 2020, against a net loss of SAR 49.8 million in the prior-year period. 

 

The company realized profitable results in 2020 for the first time since 2016 as revenue rose 5.6% year-on-year (YoY) to SAR 933 million, as well as lower operating and other expenses due to reduction in employee expenses and successful cost optimization measure.



Financials (M)

Item 2019 2020 Change‬
Revenues 882.82 932.70 5.6 %
Gross Income 165.65 195.56 18.1 %
Operating Income (26.20) (2.41) 90.8 %
Net Income (49.79) 7.43 114.9 %
Average Shares 55.50 55.50 -
EPS (Riyals) (0.90) 0.13 114.9 %

Moreover, Shaker’s profit share of invested companies improved by SAR 9 million to SAR 26 million in 2020, compared to SAR 17 million a year earlier.

 

The company reported a net profit of SAR 1.7 million in Q4 2020.

 

Total shareholders' equity, excluding minority rights, rose 1.3% to SAR 632 million in 2020, compared to SAR 624 million in 2019.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 184.12 196.49 6.7 %
Gross Income 35.29 41.41 17.4 %
Operating Income (4.40) (9.22) (109.7 %)
Net Income (7.39) (0.85) 88.5 %
Average Shares 55.50 55.50 -
EPS (Riyals) (0.13) (0.02) 88.5 %

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