Obeikan Glass Co. reported a net profit after Zakat and tax of SAR 105.2 million for the first half of 2022, increasing from SAR 55.7 million in the year-earlier period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 203.81 | 260.54 | 27.8 % |
| Gross Income | 91.76 | 149.99 | 63.5 % |
| Operating Income | 59.63 | 115.04 | 92.9 % |
| Net Income | 55.67 | 105.17 | 88.9 % |
| Average Shares | 32.00 | 32.00 | - |
| EPS (Riyals) | 1.74 | 3.29 | 88.9 % |
The profit increase was driven by higher sales volume as a result of continued demand for the company's products, in addition to the decrease in financing costs despite the increase in general and administrative expenses and other expenses.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 106.98 | 133.97 | 25.2 % |
| Gross Income | 52.77 | 77.36 | 46.6 % |
| Operating Income | 37.31 | 58.83 | 57.7 % |
| Net Income | 35.20 | 56.11 | 59.4 % |
| Average Shares | 32.00 | 32.00 | - |
| EPS (Riyals) | 1.10 | 1.75 | 59.4 % |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 126.57 | 133.97 | 5.8 % |
| Gross Income | 72.64 | 77.36 | 6.5 % |
| Operating Income | 56.21 | 58.83 | 4.7 % |
| Net Income | 49.06 | 56.11 | 14.4 % |
| Average Shares | 32.00 | 32.00 | - |
| EPS (Riyals) | 1.53 | 1.75 | 14.4 % |
Total shareholders’ equity, after minority interest, stood at SAR 522.98 million by the end of the six-month period, from SAR 323.40 million in the prior-year period.
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