Financial Results : Bawan’s net profit more than doubles to SAR 60.2 mln in 9M 2020

Bawan’s net profit more than doubles to SAR 60.2 mln in 9M 2020

28/10/2020 Argaam Exclusive

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Bawan Co. reported net profit after Zakat and tax of SAR 60.2 million, a more than two-fold jump year-on-year (YoY), for the first nine months of 2020, driven by higher revenue, increased profit margins and robust gross profit.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 1,641.57 1,713.83 4.4 %
Gross Income 187.19 228.38 22.0 %
Operating Income 48.33 86.83 79.7 %
Net Income 21.33 60.24 182.4 %
Average Shares 60.00 60.00 -
EPS (Riyals) 0.36 1.00 182.4 %


Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 525.59 548.78 4.4 %
Gross Income 57.07 86.93 52.3 %
Operating Income 12.34 36.41 195.1 %
Net Income 3.26 29.58 806.7 %
Average Shares 60.00 60.00 -
EPS (Riyals) 0.05 0.49 806.7 %

The third-quarter net profit after Zakat and tax increased by nearly nine-fold YoY to SAR 29.6 million, backed by higher gross profit, robust revenue, and lower expenses.

 

On a sequential basis, Q3 2020 net profit surged by 91.25%.

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