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.
| 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 % |
| 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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