Al Abdullatif Industrial swings to SAR 600,000 profit in H1 2021

12/08/2021 Argaam Exclusive

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Al Abdullatif Industrial Investment Co. reported a net profit of SAR 640,000 for H1 2021, versus SAR 20.8 million net loss in the prior-year period, driven by lower cost of finance, and investment profit at fair value.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	215.21	305.01	41.7 %
Gross Income	2.05	27.29	1228.8 %
Operating Income	(13.07)	8.67	166.3 %
Net Income	(20.76)	0.64	103.1 %
Average Shares	81.25	81.25	-
EPS (Riyals)	(0.26)	0.01	103.1 %

The company posted a net profit of SAR 5 million in Q2 2021, versus a net loss of SAR 13.03 million in the year-earlier period, on higher sales, lower industrial expenses, and decreased cost of financing.

On a sequential basis, the firm swung to profit against SAR 4.38 million loss in Q1 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	81.86	150.91	84.4 %
Gross Income	(3.53)	17.73	601.8 %
Operating Income	(10.98)	8.47	177.1 %
Net Income	(13.03)	5.02	138.5 %
Average Shares	81.25	81.25	-
EPS (Riyals)	(0.16)	0.06	138.5 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	154.10	150.91	(2.1 %)
Gross Income	9.56	17.73	85.4 %
Operating Income	0.20	8.47	4200.0 %
Net Income	(4.38)	5.02	214.7 %
Average Shares	81.25	81.25	-
EPS (Riyals)	(0.05)	0.06	214.7 %

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