Financial Results : Baazeem posts 10% profit rise to SAR 9.8 mln in Q1 2021

Baazeem posts 10% profit rise to SAR 9.8 mln in Q1 2021

18/05/2021 Argaam Exclusive

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Baazeem Trading Co. reported a net profit after Zakat and tax of SAR 9.8 million for the first quarter of 2021, up 10% from SAR 8.9 million in the year-earlier period.

 

The company attributed the profit rise to a decline in marketing expenses as well as general and administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 80.87 79.84 (1.3 %)
Gross Income 31.05 29.09 (6.3 %)
Operating Income 10.62 11.31 6.5 %
Net Income 8.91 9.78 9.9 %
Average Shares 101.25 101.25 -
EPS (Riyals) 0.09 0.10 9.9 %

When compared to Q4 2020, net profit after Zakat and tax surged 66.3% from SAR 5.9 million, driven by revenue growth due to Ramadan season, along with lower marketing, general and administrative expenses.

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