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).
| 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 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 4.68 | 10.72 | 129.1 % |
| Gross Income | 4.68 | 10.72 | 129.1 % |
| Operating Income | 1.61 | 8.68 | 438.6 % |
| Net Income | (3.45) | 8.35 | 342.2 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (0.06) | 0.14 | 342.2 % |
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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