BCI net profit up 9% to SAR 34.4 mln in 2021; Q4 at SAR 13 mln

30/03/2022 Argaam Exclusive

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Basic Chemical Industries Co. (BCI) reported a net profit after Zakat and tax of SAR 34.4 million for 2021, up 9% from SAR 31.5 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	500.24	513.38	2.6 %
Gross Income	131.30	143.76	9.5 %
Operating Income	57.37	74.33	29.6 %
Net Income	31.53	34.37	9.0 %
Average Shares	27.50	27.50	-
EPS (Riyals)	1.15	1.25	9.0 %

The company attributed the profit rise to higher sales.

In Q4 2021, net profit after Zakat and tax surged to SAR 13 million, from SAR 1.08 million in the year-ago period.

When compared to the previous quarter, net profit more than doubled from SAR 4.81 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	112.99	146.38	29.6 %
Gross Income	28.35	39.10	37.9 %
Operating Income	6.61	28.53	331.7 %
Net Income	1.08	13.85	1177.3 %
Average Shares	27.50	27.50	-
EPS (Riyals)	0.04	0.50	1177.3 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	122.31	146.38	19.7 %
Gross Income	30.59	39.10	27.8 %
Operating Income	11.81	28.53	141.5 %
Net Income	4.96	13.85	179.2 %
Average Shares	27.50	27.50	-
EPS (Riyals)	0.18	0.50	179.2 %

Shareholders’ equity, after minority interest, increased to SAR 570.15 million in 2021, from SAR 538.55 million a year earlier.

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