Zahrat Al Waha For Trading Co. reported a net profit after Zakat and tax of SAR 19.5 million for the first half of 2020, a 1.36% year-on-year (YoY) increase.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 263.31 | 232.26 | (11.8 %) |
| Gross Income | 34.84 | 35.61 | 2.2 % |
| Operating Income | 27.31 | 26.75 | (2.0 %) |
| Net Income | 19.27 | 19.53 | 1.4 % |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.86 | 0.87 | 1.4 % |
The increase in net profit was attributed to higher net profit for the first quarter of the current period compared to the first quarter of the same period in the previous year.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 133.42 | 108.62 | (18.6 %) |
| Gross Income | 18.04 | 14.67 | (18.7 %) |
| Operating Income | 13.91 | 10.31 | (25.9 %) |
| Net Income | 10.14 | 6.62 | (34.7 %) |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.45 | 0.29 | (34.7 %) |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 123.65 | 108.62 | (12.2 %) |
| Gross Income | 20.95 | 14.67 | (30.0 %) |
| Operating Income | 16.44 | 10.31 | (37.3 %) |
| Net Income | 12.91 | 6.62 | (48.7 %) |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.57 | 0.29 | (48.7 %) |
The company reported a net profit after Zakat and tax of SAR 6.6 million in Q2 2020, a 35% YoY decline, on lower sales affected by the decrease in raw material prices due to decline in oil prices due to the coronavirus.
When compared to previous quarter, net profit fell 48.7% on lower demand and sales in the preform sector as a result of the COVID-19 pandemic, in addition to a fall in prices of raw material.
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