Financial Results : Al-Jouf Agricultural H1 2021 net profit falls 61% to SAR 7.3 mln

Al-Jouf Agricultural H1 2021 net profit falls 61% to SAR 7.3 mln

04/08/2021 Argaam Exclusive

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Al-Jouf Agricultural Development Co. reported a net profit after Zakat and tax of SAR 7.3 million for H1 2021, down 61%, from SAR 18.5 million a year earlier, driven by lower sales and profit margins.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 118.09 117.06 (0.9 %)
Gross Income 48.14 29.23 (39.3 %)
Operating Income 31.83 7.19 (77.4 %)
Net Income 18.42 7.28 (60.5 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) 0.61 0.24 (60.5 %)
EPS (Riyals) 0.61 0.24 (60.5 %)

The second-quarter net profit after Zakat and tax fell 71% year-on-year (YoY) to SAR 3.4 million due to a drop in sales and profit margins.

 

On a sequential basis, Q2 2021 net profit declined 10.2% on lower sales.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 71.97 55.70 (22.6 %)
Gross Income 28.98 16.75 (42.2 %)
Operating Income 20.07 3.40 (83.0 %)
Net Income 11.87 3.45 (71.0 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) 0.40 0.11 (71.0 %)
EPS (Riyals) 0.40 0.11 (71.0 %)

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