Al-Omran's net profit tumbles 12% to SAR 1.66 mln in H1 2020

23/08/2020 Argaam Exclusive

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Al-Omran Industrial Trading Co. reported net profit after Zakat and tax of SAR 1.66 million for the first half of 2020, a decline of 12% year-on-year (YoY), driven by Zakat provisions at SAR 1.2 million.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	61.45	93.30	51.8 %
Gross Income	10.53	13.68	30.0 %
Operating Income	2.79	3.48	24.9 %
Net Income	1.94	1.67	(13.9 %)
Average Shares	10.21	10.21	-
EPS (Riyals)	0.19	0.16	(13.9 %)

Net profit after Zakat and tax for the second quarter increased by 37.9% YoY to SAR 1.64 million, due to higher sales revenue especially in June after the Kingdom increased VAT.

On a quarter-on-quarter basis, the profit for the current quarter jumped 11.86%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	37.85	61.72	63.1 %
Gross Income	5.76	9.35	62.4 %
Operating Income	1.71	3.03	77.1 %
Net Income	1.22	1.63	33.3 %
Average Shares	10.21	10.21	-
EPS (Riyals)	0.12	0.16	33.3 %

Item	Q1 2020	Q2 2020	Change‬
Revenues	31.58	61.72	95.4 %
Gross Income	4.33	9.35	115.8 %
Operating Income	0.45	3.03	571.4 %
Net Income	0.04	1.63	4302.7 %
Average Shares	10.21	10.21	-
EPS (Riyals)	0.00	0.16	4302.7 %

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