Zoujaj turns to net profit of SAR 19.2 mln in H1 2021

18/08/2021 Argaam Exclusive

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The National Company for Glass Industries (Zoujaj) swung to a net profit after Zakat and tax of SAR 19.2 million for the first half of 2021, against a net loss of SAR 7.7 million in the prior-year period.

The positive results were backed by an increase in the company’s profit share from associates operating in the float glass sector due to better performance.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	41.13	38.79	(5.7 %)
Gross Income	3.39	2.78	(18.0 %)
Operating Income	(1.73)	(3.11)	(79.7 %)
Net Income	(7.78)	19.84	354.9 %
Average Shares	32.90	32.90	-
EPS (Riyals)	(0.24)	0.60	354.9 %

In Q2 2021, the company turned to a net profit after Zakat and tax of SAR 10.3 million, against a net loss of SAR 10.1 million a year earlier.

When compared to the previous quarter, net profit after Zakat and tax jumped 15.7% from SAR 8.9 million.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	19.01	16.75	(11.9 %)
Gross Income	0.90	0.64	(28.6 %)
Operating Income	(1.61)	(2.78)	(72.4 %)
Net Income	(10.07)	10.05	199.7 %
Average Shares	32.90	32.90	-
EPS (Riyals)	(0.31)	0.31	199.7 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	22.03	16.75	(24.0 %)
Gross Income	2.13	0.64	(69.9 %)
Operating Income	(0.33)	(2.78)	(746.6 %)
Net Income	9.79	10.05	2.6 %
Average Shares	32.90	32.90	-
EPS (Riyals)	0.30	0.31	2.6 %

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