Financial Results : Saudi Chemical net profit up 8% to SAR 40.8 mln in Q1 2021

Saudi Chemical net profit up 8% to SAR 40.8 mln in Q1 2021

05/05/2021 Argaam Exclusive

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Saudi Chemical Co. reported a net profit after Zakat and tax of SAR 40.8 million for the first quarter of 2021, an increase of 8% compared to the same period last year when it reported a profit of SAR 38 million.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 799.58 969.46 21.2 %
Gross Income 130.14 128.94 (0.9 %)
Operating Income 54.30 60.82 12.0 %
Net Income 37.97 40.83 7.5 %
Average Shares 843.20 843.20 -
EPS (Riyals) 0.05 0.05 7.5 %

The increase in net profit was attributed to the increase in sales of pharma and explosives segments, in addition to lower general and administrative expenses, despite an increase in Zakat provisions and selling and marketing expenses.

When compared to previous quarter, the company turned to profit in Q1 2021 from a loss of SAR 23 million.

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