Financial Results : Al Kathiri 9M 2021 net profit rises over twofold to SAR 11.7 mln

Al Kathiri 9M 2021 net profit rises over twofold to SAR 11.7 mln

03/11/2021 Argaam Exclusive

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Al Kathiri Holding Co. reported a net profit after Zakat and tax of SAR 11.7 million for the first nine months of 2021, an increase of more than two times, compared to SAR 5 million in the year-earlier period. 



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 67.36 116.88 73.5 %
Gross Income 15.19 33.07 117.8 %
Operating Income 5.90 13.30 125.5 %
Net Income 4.97 11.74 136.0 %
Average Shares 213.84 226.04 5.7 %
EPS (Halala) 2.33 5.19 123.3 %

The profit soared due to higher revenue from sales growth and the eased COVID-19 precautionary measures in the Kingdom.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 26.55 41.48 56.2 %
Gross Income 5.76 11.37 97.3 %
Operating Income 2.55 5.44 113.5 %
Net Income 2.64 4.49 70.2 %
Average Shares 213.84 226.04 5.7 %
EPS (Halala) 1.23 1.99 61.0 %

In Q3 2021, net profit after Zakat and tax jumped 72% to SAR 4.5 million from SAR 2.6 million a year earlier, thanks to higher revenue and a decline in the cost of raw materials.

 

When compared to the previous quarter, Q3 net profit increased by 46.2% from SAR 3.1 million.

 

Shareholders’ equity, after minority interest, increased to SAR 137.2 million as of Sept. 30, 2021, from SAR 76.1 million a year earlier. 

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