Financial Results : Zahrat Al Waha’s net profit rises 41% in Q1 2020

Zahrat Al Waha’s net profit rises 41% in Q1 2020

23/04/2020 Argaam Exclusive

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Zahrat Al Waha for Trading Co. reported a net profit after Zakat and tax of SAR 12.9 million for the first quarter of 2020, a rise of 41% year-on-year (YoY).

 

The profit hike was driven by decline in cost of sales and financial charges.

 

On a sequential basis, net profit after Zakat and tax fell by 42.3%, driven by higher cost of sales, and increased selling and distribution expenses, as well as general and administrative (G&A) expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 129.89 123.65 (4.8 %)
Gross Income 16.80 20.95 24.7 %
Operating Income 13.40 16.44 22.7 %
Net Income 9.13 12.91 41.4 %
Average Shares 22.50 22.50 -
Earnings Per Share before unusual items (Riyals) 0.41 0.57 41.4 %
EPS (Riyals) 0.41 0.57 41.4 %

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