National Building posts 74% profit slump in FY19

30/04/2020 Argaam Exclusive

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National Building and Marketing Co. (NBMC) reported a net profit after Zakat and tax of SAR 6.2 million for the fiscal year 2019, a plunge of 74% year-on-year (YoY) due to higher cost of sales, as well as allocation of provisions for claims and impairment of receivables.

Financials (M)

Item	2018	2019	Change‬
Revenues	167.12	170.81	2.2 %
Gross Income	31.05	15.84	(49.0 %)
Operating Income	28.02	12.83	(54.2 %)
Net Income	24.12	6.22	(74.2 %)
Average Shares	12.00	12.00	-
EPS (Riyals)	2.01	0.52	(74.2 %)

In Q4 2019, the company swung to a net loss of SAR 13.6 million against a net profit of SAR 3.99 million a year earlier.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2018	H2 2019	Change‬
Revenues	86.61	91.13	5.2 %
Gross Income	14.67	1.93	(86.8 %)
Operating Income	14.49	0.83	(94.2 %)
Net Income	11.64	(2.33)	(120.0 %)
Average Shares	12.00	12.00	-
EPS (Riyals)	0.97	(0.19)	(120.0 %)

Item	H1 2019	H2 2019	Change‬
Revenues	79.68	91.13	14.4 %
Gross Income	13.91	1.93	(86.1 %)
Operating Income	11.99	0.83	(93.0 %)
Net Income	8.56	(2.33)	(127.3 %)
Average Shares	12.00	12.00	-
EPS (Riyals)	0.71	(0.19)	(127.3 %)

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