Al Jouf Agricultural posts net profit of SAR 18.4 mln H1 2020

20/08/2020 Argaam Exclusive

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Al-Jouf Agricultural Development Co. reported an over twofold increase in net profit after Zakat and tax to SAR 18.4 million for H1 2020, from SAR 7.7 million a year earlier, on higher sales and profit margins.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	94.33	118.09	25.2 %
Gross Income	25.38	48.14	89.7 %
Operating Income	8.78	31.83	262.4 %
Net Income	7.69	18.42	139.4 %
Average Shares	30.00	30.00	-
EPS (Riyals)	0.26	0.61	139.4 %

The second-quarter net profit after Zakat and tax surged to SAR 11.9 million, from SAR 1.2 million in Q2 2019, buoyed by a rise in sales and profit margins despite higher other expenses.

On a sequential basis, net profit surged 81.3% driven by sales growth.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	44.69	71.97	61.0 %
Gross Income	9.39	28.98	208.7 %
Operating Income	1.26	20.07	1487.7 %
Net Income	1.16	11.87	920.0 %
Average Shares	30.00	30.00	-
EPS (Riyals)	0.04	0.40	920.0 %

Item	Q1 2020	Q2 2020	Change‬
Revenues	46.13	71.97	56.0 %
Gross Income	19.16	28.98	51.2 %
Operating Income	11.76	20.07	70.6 %
Net Income	6.54	11.87	81.4 %
Average Shares	30.00	30.00	-
EPS (Riyals)	0.22	0.40	81.4 %

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