Al-Jouf Agricultural Development Co. reported net profit after Zakat and tax of SAR 26.1 million for the first nine months of 2020, compared to SAR 1.3 million in prior-year period, driven by SAR 5.83 million increase in sales revenue, higher profit margins, in addition to reporting SAR 25.46 million in revenue from ownership of used land parts.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 161.31 | 167.15 | 3.6 % |
| Gross Income | 31.12 | 52.91 | 70.0 % |
| Operating Income | 3.37 | 23.80 | 605.8 % |
| Net Income | 1.26 | 26.07 | 1965.5 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.04 | 0.87 | 1965.5 % |
Al-Jouf reported net profit after Zakat and tax of SAR 7.7 million in Q3 2020, versus net loss of SAR 6.4 million in year-earlier period, backed by reporting SAR 25.46 million in revenue from ownership of used land parts.
On a sequential basis, Q3 2020 net profit dropped by 35.6% due to lower sales revenue and higher selling, distribution, general and administrative expenses.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 66.98 | 49.05 | (26.8 %) |
| Gross Income | 5.74 | 4.77 | (16.9 %) |
| Operating Income | (5.41) | (8.03) | (48.4 %) |
| Net Income | (6.43) | 7.65 | 218.9 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | (0.21) | 0.25 | 218.9 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 71.97 | 49.05 | (31.8 %) |
| Gross Income | 28.98 | 4.77 | (83.6 %) |
| Operating Income | 20.07 | (8.03) | (140.0 %) |
| Net Income | 11.87 | 7.65 | (35.6 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.40 | 0.25 | (35.6 %) |
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