Financial Results : Al Kathiri Q1 2021 net profit rises 16% to SAR 4.2 mln

Al Kathiri Q1 2021 net profit rises 16% to SAR 4.2 mln

18/05/2021 Argaam Exclusive

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Al Kathiri Holding Co. reported net profit after Zakat and tax of SAR 4.2 million in Q1 2021, up 16% from SAR 3.6 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 25.57 35.21 37.7 %
Gross Income 7.48 9.90 32.3 %
Operating Income 4.06 4.50 10.7 %
Net Income 3.63 4.18 15.1 %
Average Shares 213.84 226.04 5.7 %
EPS (Halala) 1.70 1.85 8.9 %

The company attributed the profit rise to higher revenues as production and supply operations were affected in Q1 2020 due to the COVID-19 pandemic.

When compared to Q4 2020, net profit dropped 10.3% due to high pre-operating costs for establishing the 3D panels factory in Sudair City for Industry and Business.

 

Shareholders equity, after deducting minority interest, by the end of Q1 2021 stood at SAR 129.7 million compared to SAR 74.83 million in the year-earlier period.

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