Thob Al Aseel Co. reported a net profit of SAR 17.5 million for the first quarter of 2020, an 8% year-on-year (YoY) increase on higher sales of 16.09%.
The company attributed the rise in sales to high demand for the company’s products and its efforts to stimulate sales by strengthening and diversifying channels, and expanding e-commerce customer base.
When compared to the previous quarter, Q1 net profit jumped 64.8% from SAR 10.6 million million due to a 10.55% increase in sales driven by seasonality reasons.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 101.18 | 117.46 | 16.1 % |
| Gross Income | 39.91 | 42.98 | 7.7 % |
| Operating Income | 19.11 | 21.75 | 13.8 % |
| Net Income | 16.20 | 17.51 | 8.1 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.04 | 0.04 | 8.1 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 106.25 | 117.46 | 10.5 % |
| Gross Income | 39.98 | 42.98 | 7.5 % |
| Operating Income | 14.51 | 21.75 | 49.9 % |
| Net Income | 10.62 | 17.51 | 64.8 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.03 | 0.04 | 64.8 % |
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