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.
| 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 | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.69 | 0.88 | 26.9 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 68.70 | 80.87 | 17.7 % |
| Gross Income | 23.31 | 31.05 | 33.2 % |
| Operating Income | 7.61 | 10.62 | 39.5 % |
| Net Income | 5.14 | 8.91 | 73.2 % |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.51 | 0.88 | 73.2 % |
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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