Sadr Logistics turns to SAR 2.6 mln profit in 2020

18/03/2021 Argaam Exclusive

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Sadr Logistics Co. posted a net profit after Zakat and tax of SAR 2.6 million for 2020, against a net loss of SAR 1.9 million a year earlier.

The strong performance was lifted by a 29% rise year-on-year (YoY) in sales and revenue, as the company expanded in the logistics services sector and concluded long-term contracts with its customers in the same sector. The annual results were also driven by higher sales of storage equipment and other sectors, lower government costs for the industrial sector and lower selling costs, due to lower transportation and installation costs for projects.

Financials (M)

Item	2019	2020	Change‬
Revenues	42.04	54.28	29.1 %
Gross Income	9.81	14.68	49.6 %
Operating Income	(1.67)	3.92	334.1 %
Net Income	(1.90)	2.58	235.5 %
Average Shares	153.96	153.96	-
EPS (Riyals)	(0.01)	0.02	235.5 %

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	11.19	21.58	92.9 %
Gross Income	2.28	4.90	114.7 %
Operating Income	(1.33)	1.81	236.1 %
Net Income	(1.54)	0.81	152.5 %
Average Shares	153.96	153.96	-
EPS (Riyals)	(0.01)	0.01	152.5 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	11.65	21.58	85.3 %
Gross Income	3.52	4.90	39.4 %
Operating Income	0.77	1.81	135.1 %
Net Income	0.55	0.81	45.8 %
Average Shares	153.96	153.96	-
EPS (Riyals)	0.00	0.01	45.8 %

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