MEPCO posts SAR 60.8 mln net profit in H1 2021

02/08/2021 Argaam Exclusive

View other reports

Middle East Paper Co. (MEPCO) reported net profit after Zakat and tax of SAR 60.8 million in H1 2021, a more than three-fold increase, from SAR 15.6 million in prior-year period.

The profit hike was attributed to higher selling prices of all the company’s products and lower allowance for impairment of trade receivables.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	367.49	450.97	22.7 %
Gross Income	80.39	131.30	63.3 %
Operating Income	28.39	67.37	137.3 %
Net Income	15.56	60.81	290.7 %
Average Shares	66.67	66.67	-
EPS (Riyals)	0.23	0.91	290.7 %

The company reported a net profit after Zakat and tax of SAR 43.1 million for Q2 2021, an over three-fold increase, compared to the same quarter last year on higher selling prices and other income, as well as lower financing cost.

On a sequential basis, Q2 2021 net profit surged by 143%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	193.62	250.45	29.4 %
Gross Income	44.77	83.29	86.0 %
Operating Income	17.80	49.34	177.2 %
Net Income	11.44	43.09	276.6 %
Average Shares	66.67	66.67	-
EPS (Riyals)	0.17	0.65	276.6 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	200.51	250.45	24.9 %
Gross Income	48.01	83.29	73.5 %
Operating Income	18.03	49.34	173.7 %
Net Income	17.72	43.09	143.1 %
Average Shares	66.67	66.67	-
EPS (Riyals)	0.27	0.65	143.1 %

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×