Financial Results : Thob Al Aseel’s net profit rises 8% in Q1 2020

Thob Al Aseel’s net profit rises 8% in Q1 2020

26/04/2020 Argaam Exclusive

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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.



Current Quarter Comparison (M)

Compared With The
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 %

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