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 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	520.90	548.78	5.4 %
Gross Income	61.21	86.93	42.0 %
Operating Income	18.76	36.41	94.1 %
Net Income	15.46	29.58	91.3 %
Average Shares	60.00	60.00	-
EPS (Riyals)	0.26	0.49	91.3 %

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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