Bawan Co.’s net profit after Zakat and tax more than doubled to SAR 125.7 million for the first nine months of 2021, compared to SAR 60.2 million in a year-earlier period.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 1,713.83 | 2,378.37 | 38.8 % |
| Gross Income | 228.38 | 313.78 | 37.4 % |
| Operating Income | 86.83 | 151.61 | 74.6 % |
| Net Income | 60.24 | 125.74 | 108.7 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 1.00 | 2.10 | 108.7 % |
This was driven by higher operating revenue, increased sales volumes and improved selling prices.
Bawan also cited lower cost of financing and decreased losses of discontinued operations.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 548.78 | 727.44 | 32.6 % |
| Gross Income | 86.93 | 95.89 | 10.3 % |
| Operating Income | 36.41 | 48.77 | 33.9 % |
| Net Income | 29.58 | 40.93 | 38.4 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.49 | 0.68 | 38.4 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 788.82 | 727.44 | (7.8 %) |
| Gross Income | 115.43 | 95.89 | (16.9 %) |
| Operating Income | 53.23 | 48.77 | (8.4 %) |
| Net Income | 43.12 | 40.93 | (5.1 %) |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.72 | 0.68 | (5.1 %) |
Q3 2021 net profit after Zakat and tax increased by 38% year-on-year (YoY) to SAR 40.9 million, due to higher operating revenue, increased sales volumes and improved average selling prices.
On a sequential basis, net profit after Zakat and tax dropped 5.1%.
Total shareholders equity (after deducting minority equity) grew 7.8% YoY to SAR 739.4 million for the nine-month period.
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