Shaker net profit surges to SAR 27.1 mln in 9M 2021

02/11/2021 Argaam Exclusive

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Al Hassan Ghazi Ibrahim Shaker Co. (Shaker) reported a net profit after Zakat and tax of SAR 27.1 million for the first nine months of 2021 from SAR 8.3 million a year earlier, thanks to higher sales revenue and operating profit.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	736.21	836.98	13.7 %
Gross Income	154.15	176.00	14.2 %
Operating Income	6.81	30.35	345.9 %
Net Income	8.28	27.11	227.5 %
Average Shares	55.50	55.50	-
EPS (Riyals)	0.15	0.49	227.5 %

In Q3 2021, net profit after Zakat and tax rose to SAR 12 million from SAR 3.6 million in the year-ago period, supported by higher revenue and topline growth.

Sequentially, the company's Q3 2021 net profit climbed 37.6% from SAR 8.76 million.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	247.47	260.12	5.1 %
Gross Income	52.67	57.15	8.5 %
Operating Income	3.97	12.51	215.1 %
Net Income	3.59	12.03	235.6 %
Average Shares	55.50	55.50	-
EPS (Riyals)	0.06	0.22	235.6 %

Item	Q2 2021	Q3 2021	Change‬
Revenues	289.48	260.12	(10.1 %)
Gross Income	61.33	57.15	(6.8 %)
Operating Income	15.20	12.51	(17.7 %)
Net Income	8.76	12.03	37.4 %
Average Shares	55.50	55.50	-
EPS (Riyals)	0.16	0.22	37.4 %

Total shareholders' equity, excluding minority rights, fell 1.2% year-on-year (YoY) to SAR 623.27 million in 9M 2021.

Accumulated losses during the current period amounted to SAR 147.66 million, or 23.4% of the company's capital.

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