Sadr Logistics’ profit rises to SAR 3.6 mln in 2021; Q4 earnings down 90% to SAR 80,000

15/03/2022 Argaam Exclusive

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Sadr Logistics Co.’s net profit after Zakat and tax increased by 40% to SAR 3.6 million in 2021, compared to SAR 2.6 million in 2020.

Financials (M)

Item	2020	2021	Change‬
Revenues	54.28	73.23	34.9 %
Gross Income	14.68	21.34	45.4 %
Operating Income	3.92	5.53	41.1 %
Net Income	2.58	3.60	39.6 %
Average Shares	153.96	175.00	13.7 %
EPS (Riyals)	0.02	0.02	22.8 %

The profit rise was due to higher sales in steel, wood, and logistics segments.

The company’s net profit fell 90% year-on-year to SAR 80,000 in Q4 2021.

Sequentially, net profit declined from SAR 2.7 million in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	21.58	21.24	(1.6 %)
Gross Income	4.90	3.66	(25.4 %)
Operating Income	1.81	0.64	(64.9 %)
Net Income	0.81	0.08	(89.9 %)
Average Shares	153.96	175.00	13.7 %
EPS (Riyals)	0.01	0.00	(91.1 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	21.03	21.24	1.0 %
Gross Income	9.25	3.66	(60.5 %)
Operating Income	3.41	0.64	(81.4 %)
Net Income	2.67	0.08	(96.9 %)
Average Shares	153.96	175.00	13.7 %
EPS (Riyals)	0.02	0.00	(97.3 %)

Total shareholders' equity, excluding minority interest, rose to SAR 182.9 million during the period, compared to SAR 34.3 million in 2020.

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