Financial Results : Saudi Ceramic reports SAR 7 mln profit in FY19

Saudi Ceramic reports SAR 7 mln profit in FY19

25/02/2020 Argaam Exclusive

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Saudi Ceramic Co. reported a net profit after zakat and tax of SAR 7.2 million for the fiscal year of 2019, versus net losses of SAR 220.6 million in a year-earlier period, the company said in a bourse statement.



Financials (M)

Item 2018 2019 Change‬
Revenues 1,028.05 1,235.09 20.1 %
Gross Income 107.80 326.57 202.9 %
Operating Income (157.37) 60.39 138.4 %
Net Income (214.58) 7.15 103.3 %
Average Shares 100.00 100.00 -
EPS (Riyals) (2.15) 0.07 103.3 %

These earnings were mainly driven by higher sales revenue due to improved prices and increased sales volumes during the year.

 

The company also cited lower general and administrative expenses (G&As) and decreased inventory provisions.

 

The Saudi ceramic producer reported net profit of SAR 13.8 million in Q4 2019, versus net losses of SAR 85.6 million in prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 279.69 359.91 28.7 %
Gross Income 18.57 104.68 463.8 %
Operating Income (55.87) 33.71 160.3 %
Net Income (79.59) 13.81 117.4 %
Average Shares 100.00 100.00 -
EPS (Riyals) (0.80) 0.14 117.4 %

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