Saudi Ceramic turns to net profit of SAR 49.7 mln in 9M 2020

22/10/2020 Argaam Exclusive

View other reports

Saudi Ceramic Co. swung to a net profit after Zakat and tax of SAR 49.7 million for the first nine months of 2020, against a net loss of SAR 6.7 million a year earlier, driven by higher sales volumes and prices, improved other income, along with a decline in general and administrative expenses. The company’s results were also backed by lower finance charges.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	875.18	1,148.38	31.2 %
Gross Income	221.89	295.36	33.1 %
Operating Income	26.68	91.45	242.8 %
Net Income	(6.66)	49.66	845.5 %
Average Shares	100.00	100.00	-
EPS (Riyals)	(0.07)	0.50	845.5 %

The third-quarter net profit after Zakat and tax declined 6% to SAR 32.5 million, compared to a net profit of SAR 34.5 million in Q3 2019, due to adjustment of the asset life depreciation approved in Q3 2019, which fully reflected on Q3 2020 results.

When compared to the previous quarter, the ceramic and tile producer’s net profit surged over four times from SAR 6.6 million. The profit hike was spurred by the SAR 21 million provisions allocated in the previous quarter. In addition, the profit rise was also attributed to improved profit margins, a rise in other income and lower finance charges.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	291.73	373.05	27.9 %
Gross Income	108.78	106.96	(1.7 %)
Operating Income	45.16	40.63	(10.0 %)
Net Income	34.49	32.46	(5.9 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.34	0.32	(5.9 %)

Item	Q2 2020	Q3 2020	Change‬
Revenues	382.00	373.05	(2.3 %)
Gross Income	102.50	106.96	4.4 %
Operating Income	29.99	40.63	35.5 %
Net Income	6.56	32.46	394.7 %
Average Shares	100.00	100.00	-
EPS (Riyals)	0.07	0.32	394.7 %

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×