Saudi Arabia Refineries Co. (SARCO) reported a net profit after Zakat and tax of SAR 7.4 million for the first half of 2021, a rise of 23% from SAR 6 million a year earlier.
The strong performance was fueled by SARCO’s profit from associates during the current period (profit from Arab Tank Terminal Ltd).
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Operating Income | (1.35) | (1.43) | (6.0 %) |
| Net Income | 6.00 | 7.36 | 22.7 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.40 | 0.49 | 22.7 % |
In Q2 2021, SARCO’s net profit after Zakat and tax edged up 0.5% to SAR 7.14 million, compared to a net profit of SAR 7.10 in the year-earlier period.
On a quarterly basis, SARCO’s net profit surged from SAR 0.22 million, backed by the company’s SAR 7.59 million dividends due from Saudi Group for Industrial Investment.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Operating Income | (0.46) | (0.56) | (22.3 %) |
| Net Income | 7.10 | 7.14 | 0.5 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.47 | 0.48 | 0.5 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Operating Income | (0.87) | (0.56) | 36.0 % |
| Net Income | 0.22 | 7.14 | 3129.9 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.01 | 0.48 | 3129.9 % |
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