MEPCO reports SAR 20.2 mln net profit in 2020

17/03/2021 Argaam Exclusive

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Middle East Paper Co.
38.65
(0.75) (1.90 %)

Middle East Paper Co. (MEPCO)

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Middle East Paper Co. (MEPCO) posted a net profit after Zakat and tax of SAR 20.2 million in 2020, compared to SAR 6.1 million in 2019.



Financials (M)

Item 2019 2020 Change‬
Revenues 691.08 724.69 4.9 %
Gross Income 141.71 143.25 1.1 %
Operating Income 29.62 43.48 46.8 %
Net Income 6.13 20.37 232.4 %
Average Shares 66.67 66.67 -
EPS (Riyals) 0.09 0.31 232.4 %

The company attributed the rise in profit to higher sales revenue due to rise in sales volume; and decrease in cost of sales per ton, general and administrative expenses, finance cost, and fair value loss on derivatives financial instruments.

 

The company reported a net profit after Zakat and tax of SAR 4.2 million in Q4 2020, a rise of 20% year-on-year (YoY).



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 152.48 189.72 24.4 %
Gross Income 30.00 37.65 25.5 %
Operating Income 3.96 11.36 186.8 %
Net Income 3.52 4.43 25.9 %
Average Shares 66.67 66.67 -
EPS (Riyals) 0.05 0.07 25.9 %

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