Al Kathiri Holding net profit falls 40% to SAR 9.7 mln in 2020

09/03/2021 Argaam Exclusive

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Al Kathiri Holding Co. reported a net profit after Zakat and tax of SAR 9.7 million in 2020, down 40%, compared to a profit of SAR 16 million in 2019.

Financials (M)

Item	2019	2020	Change‬
Revenues	89.47	104.44	16.7 %
Gross Income	27.90	26.97	(3.3 %)
Operating Income	17.85	10.36	(42.0 %)
Net Income	16.02	9.66	(39.7 %)
Average Shares	213.84	226.04	5.7 %
EPS (Halala)	7.49	4.27	(42.9 %)

The decline in profit was attributed to increase in operating, production, and raw material expenses, along with higher general and administrative expenses. The firm also noted incurring a one-time expense related to the process of capital increase through rights issue.

The Q4 2020 net profit rose 9% year-on-year (YoY) to SAR 4.7 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	26.36	37.08	40.6 %
Gross Income	7.81	11.78	50.8 %
Operating Income	5.04	4.46	(11.5 %)
Net Income	4.29	4.69	9.1 %
Average Shares	213.84	226.04	5.7 %
EPS (Halala)	2.01	2.07	3.2 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	26.55	37.08	39.6 %
Gross Income	5.76	11.78	104.5 %
Operating Income	2.55	4.46	75.0 %
Net Income	2.64	4.69	77.6 %
Average Shares	213.84	226.04	5.7 %
EPS (Halala)	1.23	2.07	68.0 %

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