Financial Results : BCI Q1 2021 net profit down 16% to SAR 8.8 mln

BCI Q1 2021 net profit down 16% to SAR 8.8 mln

20/05/2021 Argaam Exclusive

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Basic Chemical Industries Co. (BCI) reported a net profit after Zakat and tax of SAR 8.8 million for the first quarter of 2021, a fall of 16% from SAR 10.5 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 140.96 126.10 (10.5 %)
Gross Income 35.98 37.31 3.7 %
Operating Income 17.23 17.66 2.5 %
Net Income 10.42 7.43 (28.7 %)
Average Shares 27.50 27.50 -
EPS (Riyals) 0.38 0.27 (28.7 %)

The profit decline was attributed to a 10.5% drop year-on-year (YoY) in revenue, despite lower cost of sales as well as selling and distribution expenses.

When compared to the previous quarter, net profit after Zakat and tax grew by 9.6% from SAR 13 million, thanks to a decrease in selling and distribution expenses as well as general and administrative expenses.

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