Al-Omran Industrial’s net profit surges to SAR 8.8 mln in 9M 2021

07/11/2021 Argaam Exclusive

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Al-Omran Industrial Trading Co. reported a net profit after Zakat and tax of SAR 8.8 million for the first nine months of 2021, an increase of more than two-fold, from SAR 3.6 million in a year-earlier period.

This profit surge was driven by higher selling prices.

Q3 2021 net profit after Zakat and tax dropped 15% year-on-year (YoY) to SAR 1.6 million on higher cost of sales and increased financing costs.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	116.34	114.45	(1.6 %)
Gross Income	21.43	26.45	23.4 %
Operating Income	6.27	11.60	85.1 %
Net Income	3.60	8.88	146.5 %
Average Shares	10.21	10.21	-
EPS (Riyals)	0.35	0.87	146.5 %

On a sequential basis, net profit after Zakat declined 62.6%, on lower sales.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	23.04	32.60	41.5 %
Gross Income	7.75	7.68	(0.8 %)
Operating Income	2.79	2.58	(7.5 %)
Net Income	1.94	1.63	(16.0 %)
Average Shares	10.21	10.21	-
EPS (Riyals)	0.19	0.16	(16.0 %)

Item	Q2 2021	Q3 2021	Change‬
Revenues	43.20	32.60	(24.5 %)
Gross Income	9.77	7.68	(21.4 %)
Operating Income	5.26	2.58	(51.0 %)
Net Income	4.42	1.63	(63.2 %)
Average Shares	10.21	10.21	-
EPS (Riyals)	0.43	0.16	(63.2 %)

Total shareholders’ equity (after deducting minority equity) grew 4.2% YoY to SAR 115.91 million in the nine-month period.

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