AYYAN Investment’s net profit more than triples to SAR 32.2 mln in 9M 2020

03/11/2020 Argaam Exclusive

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AYYAN Investment Co.’s net profit after Zakat and tax more than tripled year-on-year (YoY) to SAR 32.2 million for the first nine months of 2020, from a profit of SAR 8.5 million, driven by higher revenue, increased gross profit, and recording profit from investments.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	176.51	190.70	8.0 %
Gross Income	45.28	51.42	13.6 %
Operating Income	0.26	3.04	1070.9 %
Net Income	5.70	29.06	409.8 %
Average Shares	53.69	80.79	50.5 %
EPS (Riyals)	0.11	0.36	238.8 %

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	60.26	65.95	9.4 %
Gross Income	15.68	18.98	21.0 %
Operating Income	0.52	2.11	306.0 %
Net Income	2.30	9.19	299.2 %
Average Shares	53.69	80.79	50.5 %
EPS (Riyals)	0.04	0.11	165.3 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	61.42	65.95	7.4 %
Gross Income	16.44	18.98	15.5 %
Operating Income	0.77	2.11	172.3 %
Net Income	3.96	9.19	132.1 %
Average Shares	80.79	80.79	-
EPS (Riyals)	0.05	0.11	132.1 %

The third-quarter net profit after Zakat and tax increased by more than three-fold YoY to SAR 10.6 million, due to higher revenue, increased gross profit, and lower cost of revenue to sales.

On a sequential basis, Q3 2020 net profit more than doubled.

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