Watani Iron Steel Co., which is set to list on Nomu Parallel Market, posted SAR 18.32 million net profit (SAR 1.51/share) for H1 2020, an increase of 135% year-on-year.
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Income Statement |
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Period |
H1 2019 |
H1 2020 |
Variation |
|
Sales (SAR mln) |
203.35 |
205.92 |
+1% |
|
Net profit (SAR mln) |
7.78 |
18.32 |
+135% |
|
Average number of shares (mln) |
12.1 |
12.1 |
-- |
|
EPS (SAR/share) |
0.64 |
1.51 |
+135% |
The rise in profits in H1 2020 was attributed to increase in profit margin to 13.8%, compared to 9% in the same period last year, driven by a slight increase and a 5% fall in cost of sales.
It was also attributed to 19% drop in finance charges to SAR 4.95 million, compared to SAR 6.13 million in the same period a year ago.
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Income Statement for 2018 and 2019 |
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Period |
2018 |
2019 |
|
|
Sales |
476.79 |
481.06 |
|
|
Net profit (SAR mln) |
25.27 |
29.39 |
|
|
Average number of shares (mln) |
12.1 |
12.1 |
|
|
EPS (SAR/share) |
2.09 |
2.43 |
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Balance Sheet (SAR mln) |
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Period |
2018 |
2019 |
June 2020 |
|
Cash and cash equivalents |
1.75 |
11.82 |
21.98 |
|
Current assets |
71.38 |
59.19 |
74.14 |
|
Non-current assets |
361.23 |
345.78 |
336.08 |
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Total assets |
432.61 |
404.96 |
410.22 |
|
Short-term loans |
158.44 |
147.10 |
162.77 |
|
Current liabilities |
202.77 |
198.19 |
235.52 |
|
Long-term loans |
88.22 |
58.26 |
43.28 |
|
Non-current liabilities |
90.66 |
61.73 |
47.14 |
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Total liabilities |
293.43 |
259.92 |
282.66 |
|
Capital |
121.00 |
121.00 |
121.00 |
|
Shareholders’ equity |
139.19 |
145.04 |
127.56 |
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