National Building posts 75% profit slump to SAR 2.1 mln in H1 2020

14/10/2020 Argaam Exclusive

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National Building & Marketing Co. (NBM) reported a net profit after Zakat and tax of SAR 2.1 million for H1 2020, a plunge of 75% year-on-year (YoY), from SAR 8.6 million in a year-earlier period.

The profit fall was attributed to lower sales and an increase in raw material costs, due to the COVID-19 pandemic.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	79.68	153.70	92.9 %
Gross Income	13.91	14.78	6.3 %
Operating Income	11.99	11.12	(7.2 %)
Net Income	8.56	7.76	(9.3 %)
Average Shares	12.00	12.00	-
EPS (Riyals)	0.71	0.65	(9.3 %)

Current Half Annual Comparison (M)

Compared With The

Item	H1 2019	H1 2020	Change‬
Revenues	79.68	153.70	92.9 %
Gross Income	13.91	14.78	6.3 %
Operating Income	11.99	11.12	(7.2 %)
Net Income	8.56	7.76	(9.3 %)
Average Shares	12.00	12.00	-
EPS (Riyals)	0.71	0.65	(9.3 %)

Item	H2 2019	H1 2020	Change‬
Revenues	91.13	153.70	68.7 %
Gross Income	1.93	14.78	666.0 %
Operating Income	0.83	11.12	1232.5 %
Net Income	(2.33)	7.76	432.3 %
Average Shares	12.00	12.00	-
EPS (Riyals)	(0.19)	0.65	432.3 %

The company said that shareholders’ equity, excluding minority interest, stood at SAR 131.5 million in the first half of the year, declining 3.3% from SAR 136 million in H1 2019.

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