National Gypsum 9M 2020 net profit rises to SAR 32.2 mln

28/10/2020 Argaam Exclusive

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National Gypsum Co. reported a net profit after Zakat and tax of SAR 32.2 million for the first nine months of 2020, a sharp rise compared to SAR 1.6 million in the same period last year, the company said in a bourse statement.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	45.27	82.39	82.0 %
Gross Income	8.60	41.75	385.8 %
Operating Income	2.68	34.54	1191.2 %
Net Income	1.56	32.24	1961.5 %
Average Shares	31.67	31.67	-
EPS (Riyals)	0.05	1.02	1961.5 %

The increase in net profit was attributed to higher sales, lower cost of sales and the change in investment’s fair value.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	21.49	29.54	37.4 %
Gross Income	9.55	13.15	37.7 %
Operating Income	7.84	10.01	27.6 %
Net Income	6.96	9.35	34.3 %
Average Shares	31.67	31.67	-
EPS (Riyals)	0.22	0.30	34.3 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	17.86	29.54	65.4 %
Gross Income	7.85	13.15	67.5 %
Operating Income	5.82	10.01	72.0 %
Net Income	5.18	9.35	80.3 %
Average Shares	31.67	31.67	-
EPS (Riyals)	0.16	0.30	80.3 %

The company posted a net profit after Zakat and tax of SAR 9.3 million for Q3 2020, a 34% year-on-year (YoY) rise, on higher sales due to increased client orders.

When compared to previous quarter, Q3 2020 net profit grew 80.3% on higher gross profit.

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