Al-Jouf Agricultural Development Co. reported a net profit after Zakat and tax of SAR 7.3 million for H1 2021, down 61%, from SAR 18.5 million a year earlier, driven by lower sales and profit margins.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 118.09 | 117.06 | (0.9 %) |
| Gross Income | 48.14 | 29.23 | (39.3 %) |
| Operating Income | 31.83 | 7.19 | (77.4 %) |
| Net Income | 18.42 | 7.28 | (60.5 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.61 | 0.24 | (60.5 %) |
The second-quarter net profit after Zakat and tax fell 71% year-on-year (YoY) to SAR 3.4 million due to a drop in sales and profit margins.
On a sequential basis, Q2 2021 net profit declined 10.2% on lower sales.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 71.97 | 55.70 | (22.6 %) |
| Gross Income | 28.98 | 16.75 | (42.2 %) |
| Operating Income | 20.07 | 3.40 | (83.0 %) |
| Net Income | 11.87 | 3.45 | (71.0 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.40 | 0.11 | (71.0 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 61.36 | 55.70 | (9.2 %) |
| Gross Income | 12.48 | 16.75 | 34.2 % |
| Operating Income | 3.79 | 3.40 | (10.1 %) |
| Net Income | 3.84 | 3.45 | (10.2 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.13 | 0.11 | (10.2 %) |
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