Financial Results : Savola posts SAR 172.8 mln earnings in Q1 2020

Savola posts SAR 172.8 mln earnings in Q1 2020

30/04/2020 Argaam Exclusive

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Savola Group reported net profit after Zakat and tax of SAR 172.8 million in Q1 2020, compared to SAR 6.3 million in year earlier period, driven by higher gross profit, higher sales, and improved profit margins in food and retail segments.

 

Savola also cited higher profit share from associates, and lower operating expenses.

On a sequential basis, Q1 2020 net profit after Zakat and tax increased 25.8%.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 5,387.89 5,922.88 9.9 %
Gross Income 1,065.47 1,223.00 14.8 %
Operating Income 91.74 273.38 198.0 %
Net Income 6.33 172.76 2629.1 %
Average Shares 911.17 911.17 -
EPS (Riyals) 0.01 0.19 2629.1 %

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