Financial Results : Al Ahsa’s net profit rises to SAR 15.9 mln in Q1 2020

Al Ahsa’s net profit rises to SAR 15.9 mln in Q1 2020

18/06/2020 Argaam Exclusive

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Al Ahsa Development Co. reported a net profit of SAR 15.9 million for the first quarter of 2020, compared to SAR 1.4 million in Q1 2019.

 

The company attributed higher profits recording gains from its acquisition of Al Salam Medical Services at a preferential price, lower Zakat charges, and higher revenues.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 57.62 63.33 9.9 %
Gross Income 14.62 16.01 9.5 %
Operating Income 0.40 0.16 (58.9 %)
Net Income 1.42 15.91 1020.3 %
Average Shares 53.69 80.79 50.5 %
EPS (Riyals) 0.03 0.20 644.5 %

On a quarterly basis, the company turned to a profit, due to lower Zakat charges and decline in the share of losses from associates.

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