Financial Results : National Gypsum turns to SAR 17.7 mln profit in Q1 2020

National Gypsum turns to SAR 17.7 mln profit in Q1 2020

07/06/2020 Argaam Exclusive

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National Gypsum Co. (NGC) reported a net profit after Zakat and tax of SAR 17.7 million for Q1 2020, against a net loss of SAR 3.5 million in year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 11.25 35.00 211.0 %
Gross Income (1.15) 20.75 1903.1 %
Operating Income (3.35) 18.71 659.5 %
Net Income (3.51) 17.71 605.2 %
Average Shares 31.67 31.67 -
EPS (Riyals) (0.11) 0.56 605.2 %

The positive results were attributed to an over threefold rise YoY in net sales, and a decline in administrative and marketing expenses.

 

When compared to Q4 2019, the company’s net profit after zakat and tax surged 89.6%, thanks to a 40.44% sales growth.

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