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 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	288.30	289.48	0.4 %
Gross Income	57.63	61.33	6.4 %
Operating Income	1.07	15.20	1320.3 %
Net Income	6.32	8.76	38.5 %
Average Shares	55.50	55.50	-
EPS (Riyals)	0.11	0.16	38.5 %

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