Al Hammadi net profit up 18% to SAR 75.8 mln in H1 2021

12/08/2021 Argaam Exclusive

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Al Hammadi Company for Development and Investment reported net profit after Zakat and tax of SAR 75.8 million for H1 2021, a rise of 18%, from net profit of SAR 64.1 million in the prior-year period, driven by lower cost of finance, decreased Zakat expenses and higher operating revenue.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	450.99	450.19	(0.2 %)
Gross Income	157.29	167.37	6.4 %
Operating Income	86.99	56.32	(35.3 %)
Net Income	64.05	75.84	18.4 %
Average Shares	160.00	160.00	-
EPS (Riyals)	0.40	0.47	18.4 %

The second-quarter net profit rose 3 % YoY to SAR 40.3 million, backed by higher revenue from the medical services as well as the pharmaceuticals segments.

The company also cited lower cost of finance and decreased Zakat expenses.

On a sequential basis, net profit increased by 13.39%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	244.30	223.90	(8.4 %)
Gross Income	90.81	79.96	(11.9 %)
Operating Income	53.15	33.63	(36.7 %)
Net Income	39.10	40.31	3.1 %
Average Shares	160.00	160.00	-
EPS (Riyals)	0.24	0.25	3.1 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	226.29	223.90	(1.1 %)
Gross Income	87.41	79.96	(8.5 %)
Operating Income	22.69	33.63	48.2 %
Net Income	35.54	40.31	13.4 %
Average Shares	160.00	160.00	-
EPS (Riyals)	0.22	0.25	13.4 %

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