Financial Results : BCI net profit rises 70% to SAR 10.4 mln in Q1 2020

BCI net profit rises 70% to SAR 10.4 mln in Q1 2020

15/06/2020 Argaam Exclusive

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Basic Chemical Industries Co. (BCI) reported a net profit of SAR 10.4 million for the first quarter of 2020, rising 70% year-on-year (YoY), compared to SAR 6.1 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 130.98 140.96 7.6 %
Gross Income 29.36 35.98 22.5 %
Operating Income 11.46 17.23 50.4 %
Net Income 6.12 10.42 70.4 %
Average Shares 27.50 27.50 -
EPS (Riyals) 0.22 0.38 70.4 %

The company attributed the increase to higher sales and decline in general and administrative (G&A) expenses.

 

When compared to the previous quarter, net profit rose marginally by 1% on higher revenues.

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