Saudi Advanced Industries Co. (SAIC) reported a net profit after Zakat and tax of SAR 33.8 million for the first half of 2021, a surge of over twofold from SAR 13.1 million a year earlier.
The company reported higher revenue, amid an increase in its profit share from subsidiaries and other revenue along with a decline in finance costs.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 17.44 | 39.03 | 123.8 % |
| Gross Income | 17.44 | 39.03 | 123.8 % |
| Operating Income | 13.63 | 34.72 | 154.7 % |
| Net Income | 13.05 | 33.84 | 159.4 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.22 | 0.56 | 159.4 % |
In Q2 2021, net profit after Zakat and tax more than tripled year-on-year (YoY) to SAR 16.8 million, backed by higher revenue, an increase in the company’s profit share from subsidiaries and other revenue as well as lower finance costs.
When compared to the previous quarter, the company’s net profit after Zakat and tax edged down 1.5% from SAR 17.05 million.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 6.71 | 19.34 | 188.1 % |
| Gross Income | 6.71 | 19.34 | 188.1 % |
| Operating Income | 4.95 | 17.17 | 246.9 % |
| Net Income | 4.70 | 16.79 | 257.6 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.08 | 0.28 | 257.6 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 19.69 | 19.34 | (1.7 %) |
| Gross Income | 19.69 | 19.34 | (1.7 %) |
| Operating Income | 17.54 | 17.17 | (2.1 %) |
| Net Income | 17.05 | 16.79 | (1.5 %) |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.28 | 0.28 | (1.5 %) |
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