Financial Results : MEPCO posts SAR 17.7 mln net profit in Q1 2021

MEPCO posts SAR 17.7 mln net profit in Q1 2021

02/05/2021 Argaam Exclusive

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Middle East Paper Co. (MEPCO) reported net profit after Zakat and tax of SAR 17.7 million in Q1 2021, a more than four-fold increase, from SAR 4.12 million in prior-year period.

 

This profit hike was attributed to higher selling prices, lower cost of finance, higher other income.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 173.87 200.51 15.3 %
Gross Income 35.61 48.01 34.8 %
Operating Income 10.59 18.03 70.2 %
Net Income 4.12 17.72 329.7 %
Average Shares 66.67 66.67 -
EPS (Riyals) 0.06 0.27 329.7 %

On a sequential basis, Q1 2021 net profit surged by 319%, on lower Zakat expenses.

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