Al-Omran’s net profit rises more than two-fold to SAR 3.6 mln in 9M 2020

09/11/2020 Argaam Exclusive

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Al-Omran Industrial Trading Co. reported net profit after Zakat and tax of SAR 3.6 million for the first nine months of 2020, up by more than two-fold year-on-year (YoY), driven by lower cost of sales, higher sales revenue especially in June due to increasing value-added tax (VAT).

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	92.50	116.34	25.8 %
Gross Income	15.17	21.43	41.3 %
Operating Income	2.79	6.27	124.9 %
Net Income	1.63	3.60	121.1 %
Average Shares	10.21	10.21	-
EPS (Riyals)	0.16	0.35	121.1 %

Al-Omran reported net profit after Zakat and tax of SAR 1.9 million in Q3 2020, versus net loss of SAR 288,116 in year-earlier period, backed by lower cost of sales.

On a sequential basis, Q3 2020 net profit rose 17.4%.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	31.05	23.04	(25.8 %)
Gross Income	4.64	7.75	66.8 %
Operating Income	0.00	2.79	278500.0 %
Net Income	(0.31)	1.94	734.8 %
Average Shares	10.21	10.21	-
EPS (Riyals)	(0.03)	0.19	734.8 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	61.72	23.04	(62.7 %)
Gross Income	9.35	7.75	(17.2 %)
Operating Income	3.03	2.79	(8.0 %)
Net Income	1.63	1.94	18.8 %
Average Shares	10.21	10.21	-
EPS (Riyals)	0.16	0.19	18.8 %

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