The National Company for Glass Industries (Zoujaj) turned to a net profit after Zakat and tax of SAR 39.3 million in the first nine months of 2021, compared to a net loss of SAR 5.1 million in the same period last year.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 57.35 | 58.31 | 1.7 % |
| Gross Income | 3.48 | 2.70 | (22.5 %) |
| Operating Income | (4.32) | (8.30) | (92.3 %) |
| Net Income | (5.15) | 38.90 | 855.5 % |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | (0.16) | 1.18 | 855.5 % |
The company attributed the earnings to higher profit from associates operating in the float glass sector due to better performance.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 16.22 | 19.52 | 20.4 % |
| Gross Income | 0.10 | (0.07) | (175.5 %) |
| Operating Income | (2.81) | (5.20) | (85.0 %) |
| Net Income | 2.64 | 19.05 | 622.5 % |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | 0.08 | 0.58 | 622.5 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 16.75 | 19.52 | 16.5 % |
| Gross Income | 0.64 | (0.07) | (111.5 %) |
| Operating Income | (2.78) | (5.20) | (87.1 %) |
| Net Income | 10.05 | 19.05 | 89.6 % |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | 0.31 | 0.58 | 89.6 % |
The third-quarter net profit after Zakat and tax surged to SAR 20.1 million from SAR 2.6 million in year-earlier period, thanks to higher profit from associates in the float glass sector.
When compared to previous quarter, Q3 2021 net profit jumped 95.1%.
Total shareholders’ equity, excluding minority rights, amounted to SAR 633 million in the nine-month period, compared to SAR 586.4 million in the same period a year ago.
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