Baazeem Trading net profit up 32% to SAR 20.4 mln in 9M 2020

04/11/2020 Argaam Exclusive

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Baazeem Trading Co.’s net profit after Zakat and tax rose 32% year-on-year (YoY) to SAR 20.4 million for the first nine months of 2020, driven by a 14.13% increase in sales revenue.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	191.56	218.62	14.1 %
Gross Income	60.15	83.83	39.4 %
Operating Income	20.20	25.29	25.2 %
Net Income	15.48	20.39	31.7 %
Average Shares	101.25	101.25	-
EPS (Riyals)	0.15	0.20	31.7 %

The third-quarter net profit after Zakat and tax jumped 58% YoY to SAR 4.9 million, backed by higher sales revenue and stronger demand.

On a sequential basis, Q3 2020 net profit dropped 25.7%.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	60.16	66.00	9.7 %
Gross Income	17.56	24.95	42.0 %
Operating Income	4.59	6.38	39.0 %
Net Income	3.11	4.89	57.5 %
Average Shares	101.25	101.25	-
EPS (Riyals)	0.03	0.05	57.5 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	71.75	66.00	(8.0 %)
Gross Income	22.84	24.95	9.2 %
Operating Income	8.30	6.38	(23.1 %)
Net Income	6.59	4.89	(25.8 %)
Average Shares	101.25	101.25	-
EPS (Riyals)	0.07	0.05	(25.8 %)

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