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 %

Item	Q2 2021	Q3 2021	Change‬
Revenues	40.19	41.48	3.2 %
Gross Income	11.81	11.37	(3.7 %)
Operating Income	3.37	5.44	61.5 %
Net Income	3.07	4.49	46.2 %
Average Shares	226.04	226.04	-
EPS (Halala)	1.36	1.99	46.2 %

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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