Financial Results : Baazeem net profit up 27% in Q1 2020

Baazeem net profit up 27% in Q1 2020

29/04/2020 Argaam Exclusive

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Baazeem Trading Co. reported net profit after Zakat and tax of SAR 8.91 million for the first quarter of 2020, a 26.9% year-on-year (YoY) increase.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 64.69 80.87 25.0 %
Gross Income 21.41 31.05 45.1 %
Operating Income 8.72 10.62 21.8 %
Net Income 7.02 8.91 26.9 %
Average Shares 101.25 101.25 -
EPS (Riyals) 0.07 0.09 26.9 %

The increase in net profit was attributed to higher sales driven by higher demand on the company’s products, particularly gloves and tuna, in addition to the season of Ramadan.

 

When compared to previous quarter, net profit rose 73.2%.

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