Financial Results : Shaker swings to profit of SAR 6.3 mln in Q1 2021

Shaker swings to profit of SAR 6.3 mln in Q1 2021

05/05/2021 Argaam Exclusive

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Al Hassan Ghazi Ibrahim Shaker Co. (Shaker) reported a net profit of SAR 6.3 million, compared to a net loss of SAR 1.5 million in the year-earlier period.

 

The higher profit was driven by 30% year-on-year (YoY) increase in revenue and higher profit share from associates.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 220.98 288.30 30.5 %
Gross Income 49.36 57.63 16.8 %
Operating Income (5.17) 1.07 120.7 %
Net Income (2.93) 6.32 315.9 %
Average Shares 55.50 55.50 -
EPS (Riyals) (0.05) 0.11 315.9 %

When compared to Q4 2020, the company’s net profit rose 15.2%, thanks to higher sales, lower finance costs and increased profit share from associates.

 

Shareholders’ equity, excluding minority interest, rose 2.7% to SAR 639 million by the end of Q1 2021, compared to SAR 662.3 million in the year-ago period.

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