Al-Baha posts SAR 830,704 net profit in H1 2020

25/08/2020 Argaam Exclusive

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Al-Baha Investment and Development Co. posted a net profit after Zakat and tax of SAR 830,704 for H1 2020, against a net loss of SAR 422,327 a year earlier.

The company was driven by a 16.38% year-on-year rise in revenue, amid flat cost of sales and a decline of 6.21% YoY in general and administrative expenses.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	4.85	5.65	16.4 %
Gross Income	2.73	3.53	29.4 %
Operating Income	1.16	2.06	77.4 %
Net Income	(0.60)	0.58	197.1 %
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	(0.02)	0.02	197.1 %

The second-quarter net profit after Zakat and tax rose over two times to SAR 449,905 million from SAR 179,864 million in Q2 2019. The positive figures were backed by a 17.95% YoY rise in revenue, amid lower cost of sales, as well as general and administrative expenses.

On a sequential basis, Al-Baha’s net profit jumped 18%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	2.45	2.89	17.9 %
Gross Income	1.40	1.86	32.8 %
Operating Income	0.58	1.12	93.1 %
Net Income	0.09	0.31	238.5 %
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	0.00	0.01	238.5 %

Item	Q1 2020	Q2 2020	Change‬
Revenues	2.76	2.89	4.9 %
Gross Income	1.67	1.86	11.4 %
Operating Income	0.94	1.12	19.3 %
Net Income	0.27	0.31	13.7 %
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	0.01	0.01	13.7 %

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