Alujain Holding Corp. reported a net profit after Zakat and tax of SAR 136.6 million for the first half of 2020, from a net loss of SAR 149.7 million in the same period last year.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 11.31 | 7.25 | (35.9 %) |
| Gross Income | 2.56 | 0.65 | (74.5 %) |
| Operating Income | (3.42) | (14.42) | (321.8 %) |
| Net Income | (149.72) | 136.62 | 191.2 % |
| Average Shares | 69.20 | 69.20 | - |
| EPS (Riyals) | (2.16) | 1.97 | 191.2 % |
The profit was attributed to higher profit from an affiliate, NATPET, driven by the regularity of operations during Q2 2020 after the completion of the rebuilding work of NATPET plant following the fire accident in Q4 2018.
In addition the profit was driven by receiving the remaining settlement amount of the insurance compensation by NATPET.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 6.56 | 2.61 | (60.1 %) |
| Gross Income | 1.75 | 0.04 | (97.8 %) |
| Operating Income | (1.03) | (4.01) | (287.9 %) |
| Net Income | (71.01) | 182.98 | 357.7 % |
| Average Shares | 69.20 | 69.20 | - |
| EPS (Riyals) | (1.03) | 2.64 | 357.7 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 4.63 | 2.61 | (43.6 %) |
| Gross Income | 0.62 | 0.04 | (93.8 %) |
| Operating Income | (10.41) | (4.01) | 61.5 % |
| Net Income | (46.37) | 182.98 | 494.6 % |
| Average Shares | 69.20 | 69.20 | - |
| EPS (Riyals) | (0.67) | 2.64 | 494.6 % |
The company turned to profit of SAR 183 million in Q2 2020 from a net loss of SAR 71.01 million a year earlier.
When compared to the previous quarter, the company turned to a profit against a loss of SAR 46.37 million.
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