BCI H1 2021 profit down 4.3% to SAR 29.1 mln

19/08/2021 Argaam Exclusive

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Basic Chemical Industries Co. (BCI) reported a net profit after Zakat and tax of SAR 29 million for the first half of 2021, down 4.3% from SAR 30.4 million in the same period a year earlier.

The company attributed the profit drop to lower sales and other operating income, and higher general and administrative expenses.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	272.10	244.69	(10.1 %)
Gross Income	70.76	74.08	4.7 %
Operating Income	34.40	33.99	(1.2 %)
Net Income	21.09	15.56	(26.2 %)
Average Shares	27.50	27.50	-
EPS (Riyals)	0.77	0.57	(26.2 %)

BCI reported 4.4% year-on-year (YoY) decline in Q2 2021 net profit after Zakat and tax to SAR 14.6 million, driven by lower sales.

When compared to the previous quarter, net profit rose marginally by 1.5% on lower Zakat and income tax expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	131.14	118.60	(9.6 %)
Gross Income	34.78	36.77	5.7 %
Operating Income	17.17	16.33	(4.9 %)
Net Income	10.66	8.13	(23.8 %)
Average Shares	27.50	27.50	-
EPS (Riyals)	0.39	0.30	(23.8 %)

Item	Q1 2021	Q2 2021	Change‬
Revenues	126.10	118.60	(5.9 %)
Gross Income	37.31	36.77	(1.5 %)
Operating Income	17.66	16.33	(7.6 %)
Net Income	7.43	8.13	9.4 %
Average Shares	27.50	27.50	-
EPS (Riyals)	0.27	0.30	9.4 %

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