Al Kathiri’s net profit rises 72% in FY2019

09/02/2020 Argaam Exclusive

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Al Kathiri Holding Co. posted a net profit after zakat and tax of SAR 16.01 million for the fiscal year (FY) 2019, a rise of 72.1% year-on-year (YoY), as compared to SAR 9.3 million in FY2018.

Financials (M)

Item	2018	2019	Change‬
Revenues	50.49	89.47	77.2 %
Gross Income	15.87	27.90	75.8 %
Operating Income	9.68	17.85	84.5 %
Net Income	9.30	16.02	72.1 %
Average Shares	213.84	213.84	-
EPS (Halala)	4.35	7.49	72.1 %

The resulting profit was driven by increased sales value and the company’s contract with the Air Force, it said in a bourse statement.

Sales revenue also jumped 77.2% to SAR 89.46 million in FY2019.

The company also reported a net income of SAR 4.29 million in the fourth quarter of 2019, more than two-fold increase as compared to SAR 1.37 million in Q4 2018.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	10.27	26.36	156.6 %
Gross Income	2.38	7.81	228.7 %
Operating Income	1.76	5.04	186.7 %
Net Income	1.37	4.29	212.4 %
Average Shares	213.84	213.84	-
EPS (Halala)	0.64	2.01	212.4 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	18.02	26.36	46.3 %
Gross Income	6.68	7.81	17.0 %
Operating Income	4.20	5.04	19.8 %
Net Income	4.15	4.29	3.6 %
Average Shares	213.84	213.84	-
EPS (Halala)	1.94	2.01	3.6 %

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