Financial Results : Al-Jouf Agricultural reports net profit SAR 3.8 mln for Q1 2021

Al-Jouf Agricultural reports net profit SAR 3.8 mln for Q1 2021

05/05/2021 Argaam Exclusive

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Al-Jouf Agricultural Development Co. reported net profit after Zakat and tax of SAR 3.8 million for Q1 2021, a 41% decline from a profit of SAR 6.5 million in the same period last year.

 




Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 46.13 61.36 33.0 %
Gross Income 19.16 12.48 (34.9 %)
Operating Income 11.76 3.79 (67.8 %)
Net Income 6.54 3.84 (41.4 %)
Average Shares 30.00 30.00 -
EPS (Riyals) 0.22 0.13 (41.4 %)

The decline was driven by lower profit margins on increased product cost, lower gross profit and higher selling and distribution costs.

When compared to the previous quarter, the company swung to profit from SAR 4.7 million losses in Q4 2020.

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