Financial Results : Saudi Advanced Industries' net profit more than doubles to SAR 8.4 mln in Q1 2020

Saudi Advanced Industries' net profit more than doubles to SAR 8.4 mln in Q1 2020

12/05/2020 Argaam Exclusive

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Saudi Advanced Industries Co. reported a more than double profit jump year-on-year (YoY) to SAR 8.4 million in Q1 2020, driven by higher revenue and increased dividend distribution, despite the company's lower profit share from subsidiaries and a rise in general and administrative expenses (G&As).



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 6.04 10.72 77.5 %
Gross Income 6.04 10.72 77.5 %
Operating Income 4.53 8.68 91.6 %
Net Income 4.13 8.35 102.3 %
Average Shares 60.00 60.00 -
EPS (Riyals) 0.07 0.14 102.3 %

When compared to the previous quarter, the company swung to profit in Q1 versus net losses of SAR 3.47 million in Q4 2019.

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