Financial Results : Bawan's net profit jumps 70% to SAR 30.7 mln in H1 2020

Bawan's net profit jumps 70% to SAR 30.7 mln in H1 2020

18/08/2020 Argaam Exclusive

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Bawan Co. reported net profit after Zakat and tax of SAR 30.7 million for the first half of 2020, a hike of 70% year-on-year (YoY), driven by lower operating expenses and higher gross profit.



Financials (M)

Item 6m 2019 6m 2020 Change‬
Revenues 1,115.98 1,165.05 4.4 %
Gross Income 130.12 141.45 8.7 %
Operating Income 35.99 50.42 40.1 %
Net Income 18.07 30.67 69.7 %
Average Shares 60.00 60.00 -
EPS (Riyals) 0.30 0.51 69.7 %


Current Quarter Comparison (M)

Compared With The
Item Q2 2019 Q2 2020 Change‬
Revenues 519.17 520.90 0.3 %
Gross Income 58.94 61.21 3.8 %
Operating Income 12.47 18.76 50.4 %
Net Income 3.03 15.46 410.9 %
Average Shares 60.00 60.00 -
EPS (Riyals) 0.05 0.26 410.9 %

Net profit after Zakat and tax for the second quarter rose more than five-fold YoY to SAR 15.5 million, due to higher gross profit, increased profit margins, and lower operating expenses.

 

On a quarter-on-quarter basis, the profit for the current quarter increased by 1.7%.

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