Financial Results : Shaker net profit soars to SAR 15.1 mln in H1 2021

Shaker net profit soars to SAR 15.1 mln in H1 2021

19/08/2021 Argaam Exclusive

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Al Hassan Ghazi Ibrahim Shaker Co. (Shaker) reported a net profit after Zakat and tax of SAR 15.1 million for the first half of 2021, a rise of more than three times from SAR 4.4 million a year earlier.

 

The profit surge was driven by an 18.2% rise year-on-year (YoY) in revenue. Gross profit also grew by 17.2% YoY, while finance costs dropped 32.2% YoY.

 

Operating profit improved to SAR 16 million in H1 2021 compared to SAR 3.4 million a year earlier.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 488.75 577.78 18.2 %
Gross Income 101.48 118.96 17.2 %
Operating Income 2.84 16.27 473.6 %
Net Income 4.69 15.08 221.4 %
Average Shares 55.50 55.50 -
EPS (Riyals) 0.08 0.27 221.4 %

In Q2 2021, net profit after Zakat and tax climbed 15% to SAR 8.8 million from SAR 7.6 million in the year-ago period, thanks to a 8.1% YoY revenue growth. Gross profit also increased by 17.7% YoY.

 

Sequentially, Shaker’s net profit after Zakat and tax skyrocketed 92.9% from SAR 4.5 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 267.77 289.48 8.1 %
Gross Income 52.12 61.33 17.7 %
Operating Income 8.01 15.20 89.7 %
Net Income 7.62 8.76 14.9 %
Average Shares 55.50 55.50 -
EPS (Riyals) 0.14 0.16 14.9 %

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