SARCO net profit down 22% to SAR 13.4 mln in 2020

04/03/2021 Argaam Exclusive

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Saudi Arabia Refineries Co. (SARCO) reported a net profit after Zakat and tax of SAR 13.4 million for 2020, down 22%, from SAR 17.2 million in 2019.

The company attributed the decline in net profit to the decrease in dividend payable for the current year from Saudi Industrial Investment Group Co. (SIIG) compared to the previous year.

Financials (M)

Item	2019	2020	Change‬
Operating Income	(3.14)	(2.79)	11.1 %
Net Income	17.17	13.38	(22.1 %)
Average Shares	15.00	15.00	-
EPS (Riyals)	1.14	0.89	(22.1 %)

In Q4 2020, the company’s net profit after Zakat and tax fell 23% to SAR 7 million, compared to SAR 9.04 million in Q4 2019.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Operating Income	(1.39)	(0.92)	33.5 %
Net Income	9.04	7.00	(22.6 %)
Average Shares	15.00	15.00	-
EPS (Riyals)	0.60	0.47	(22.6 %)

Item	Q3 2020	Q4 2020	Change‬
Operating Income	(0.52)	(0.92)	(78.0 %)
Net Income	0.39	7.00	1712.2 %
Average Shares	15.00	15.00	-
EPS (Riyals)	0.03	0.47	1712.2 %

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