Savola posts SAR 582.3 mln net profit in H1 2020

16/08/2020 Argaam Exclusive

View other reports

Savola Group reported net profit after Zakat and tax of SAR 582.3 million for the first six months of 2020, compared to SAR 116.6 million in year earlier period.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	11,026.56	11,929.96	8.2 %
Gross Income	2,228.63	2,501.68	12.3 %
Operating Income	246.45	636.99	158.5 %
Net Income	116.56	582.33	399.6 %
Average Shares	911.17	911.17	-
EPS (Riyals)	0.13	0.64	399.6 %

The rise in profit is driven by higher gross profit, higher sales, and improved profit margins in retail and frozen foods segments.

Savola also cited higher profit share from associates, and lower operating expenses and finance costs, despite higher Zakat and tax expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	5,812.70	6,007.08	3.3 %
Gross Income	1,163.16	1,278.68	9.9 %
Operating Income	154.71	363.61	135.0 %
Net Income	110.23	409.58	271.6 %
Average Shares	911.17	911.17	-
EPS (Riyals)	0.12	0.45	271.6 %

Item	Q1 2020	Q2 2020	Change‬
Revenues	5,922.88	6,007.08	1.4 %
Gross Income	1,223.00	1,278.68	4.6 %
Operating Income	273.38	363.61	33.0 %
Net Income	172.76	409.58	137.1 %
Average Shares	911.17	911.17	-
EPS (Riyals)	0.19	0.45	137.1 %

In Q2 2020, the company reported net profit after Zakat and tax of SAR 409.6 million, a 271.6% YoY increase, compared to SAR 110.2 million in year earlier period.

On a sequential basis, Q2 2020 net profit after Zakat and tax increased 137%.

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×