Saudi Arabia Refineries Co. (SARCO) reported a 51% drop in net profit after Zakat and tax to SAR 6.6 million in 2021, compared to SAR 13.4 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Operating Income | (2.79) | (1.33) | 52.3 % |
| Net Income | 13.38 | 6.59 | (50.7 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.89 | 0.44 | (50.7 %) |
The company said that no dividend was distributed for the second half of 2021 by the Saudi Industrial Investment Group (SIIG), an affiliate, adding that a total of SAR 7.59 million was distributed compared to the previous year’s profit at SAR 15.19 million.
The company also cited a decline in its profit share from associates.
In Q4 2021, the company swung to a net loss after Zakat and tax of SAR 1.6 million, against a net profit after Zakat and tax of SAR 7 in Q4 2020.
SARCO posted a net profit of SAR 830,000 in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Operating Income | (0.92) | (0.95) | (3.1 %) |
| Net Income | 7.00 | (1.60) | (122.8 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.47 | (0.11) | (122.8 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Operating Income | 1.05 | (0.95) | (190.3 %) |
| Net Income | 0.83 | (1.60) | (292.6 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.06 | (0.11) | (292.6 %) |
Shareholders' equity, after minority interest, rose to SAR 559.5 million in 2021, from SAR 508.3 million a year ago.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}