Financial Results : Kingdom Holding turns to net profit of SAR 91.1 mln in Q1 2021

Kingdom Holding turns to net profit of SAR 91.1 mln in Q1 2021

23/05/2021 Argaam Exclusive

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Kingdom Holding Co. (KHC) swung to a net profit after Zakat and tax of SAR 91.1 million for the first quarter of 2021, against a net loss of SAR 50.1 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 333.47 104.32 (68.7 %)
Gross Income 71.69 (6.85) (109.6 %)
Operating Income (32.81) (62.55) (90.7 %)
Net Income (50.11) 91.06 281.7 %
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) (0.01) 0.02 281.7 %

The positive results were driven by an increase in other gains, lower hotel and other operating costs, as well as general, administrative and marketing expenses. The investment company also reported a decline in financial charges and income tax expenses, the impairment of financial assets, and Zakat expense.

 

The first-quarter figures were also backed by an increase in dividend income.

The company incurred a net loss of SAR 97.2 million in Q4 2020.

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