Lazurde swings to SAR 18.2 mln profit in H1 2021

08/08/2021 Argaam Exclusive

View other reports

Lazurde Company for Jewelry swung to a net profit after Zakat and tax of SAR 18.2 million in H1 2021, against a net loss of SAR 67.8 million in the year-ago period.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	615.91	1,026.80	66.7 %
Gross Income	91.68	160.07	74.6 %
Operating Income	(3.73)	48.05	1387.5 %
Net Income	(67.78)	18.17	126.8 %
Average Shares	50.51	57.50	13.8 %
EPS (Riyals)	(1.34)	0.32	123.5 %

The profit was attributed to a 66.7% year-on-year (YoY) increase in total revenue, while operating revenue rose 59.4% YoY.

In Saudi Arabia, retail revenue increased by 38.2% YoY as the company launched Miss L’ and Lazurde InStyle brands, along with launch of new outlets amid easing of COVID-19 precautionary measures. Meanwhile, retail operating revenue in Egypt jumped 77.9% YoY.

The company also launched its e-commerce business in March 2020, which delivered SAR 11.3 million revenues in H1 2021 – which accounts for 4.3% of group operating revenue and 10.3% of retail revenue.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	170.92	475.40	178.1 %
Gross Income	21.11	75.48	257.6 %
Operating Income	(16.15)	20.17	224.9 %
Net Income	(66.17)	8.00	112.1 %
Average Shares	50.51	57.50	13.8 %
EPS (Riyals)	(1.31)	0.14	110.6 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	551.40	475.40	(13.8 %)
Gross Income	84.59	75.48	(10.8 %)
Operating Income	27.88	20.17	(27.7 %)
Net Income	10.17	8.00	(21.3 %)
Average Shares	50.51	57.50	13.8 %
EPS (Riyals)	0.20	0.14	(30.9 %)

The jewelry firm swung to net profit after Zakat and tax of SAR 8 million in Q2 2021, versus a loss of SAR 66.2 million in Q2 2020, due to higher operating revenue and total group revenue.

On a sequential basis, Q2 net profit declined 21.6% from SAR 10.2 million.

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.

×