Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) reported a net profit after Zakat and tax of SAR 24.5 million in Q1 2021, a decrease of 42%, from SAR 41.9 million in Q1 2020.
The profit decline was attributed to lower sales and gross profit.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 475.72 | 454.81 | (4.4 %) |
| Gross Income | 198.73 | 142.00 | (28.5 %) |
| Operating Income | 57.44 | 19.82 | (65.5 %) |
| Net Income | 45.60 | 26.15 | (42.7 %) |
| Average Shares | 120.00 | 120.00 | - |
| EPS (Riyals) | 0.38 | 0.22 | (42.7 %) |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 378.52 | 454.81 | 20.2 % |
| Gross Income | 145.55 | 142.00 | (2.4 %) |
| Operating Income | 2.91 | 19.82 | 581.3 % |
| Net Income | (13.20) | 26.15 | 298.1 % |
| Average Shares | 120.00 | 120.00 | - |
| EPS (Riyals) | (0.11) | 0.22 | 298.1 % |
When compared to the previous quarter, the company turned to a profit, as sales increased by SAR 87 million.
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