Fitaihi turns to SAR 147.1 mln profit in H1 2021

12/08/2021 Argaam Exclusive

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Fitaihi Holding Group reported a net profit of SAR 147.1 million for H1 2021, versus a net loss of SAR 19.3 million in the prior-year period, driven by exceptional capital gains of SAR 125.7 million from selling a stake in an associate.

The company also cited higher dividends from equity instruments at fair value.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	22.17	27.65	24.7 %
Gross Income	6.28	12.20	94.3 %
Operating Income	(8.32)	(3.42)	58.9 %
Net Income	(19.28)	147.11	862.9 %
Average Shares	275.00	275.00	-
EPS (Riyals)	(0.07)	0.53	862.9 %

Fitaihi reported a net profit of SAR 17 million in Q2 2021, versus SAR 16.87 million loss in the year-earlier period, backed by 48% higher sales and increased dividends from equity instruments at fair value.

On a sequential basis, net profit dropped by 87%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	9.38	13.95	48.6 %
Gross Income	0.86	6.11	614.3 %
Operating Income	(5.71)	(1.71)	70.1 %
Net Income	(16.87)	17.01	200.8 %
Average Shares	275.00	275.00	-
EPS (Riyals)	(0.06)	0.06	200.8 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	13.71	13.95	1.8 %
Gross Income	6.09	6.11	0.3 %
Operating Income	(1.71)	(1.71)	(0.1 %)
Net Income	130.11	17.01	(86.9 %)
Average Shares	275.00	275.00	-
EPS (Riyals)	0.47	0.06	(86.9 %)

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