Saudi Company for Hardware (SACO) reported a net profit after Zakat and tax of SAR 85.5 million for 2020, a 39% increase from SAR 61.6 million in 2019.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 1,457.76 | 1,481.76 | 1.6 % |
| Gross Income | 281.66 | 296.42 | 5.2 % |
| Operating Income | 107.66 | 146.65 | 36.2 % |
| Net Income | 61.64 | 85.53 | 38.8 % |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 1.71 | 2.38 | 38.8 % |
The company attributed the profit rise to higher sales due to opening of four new showrooms, resulting in increase in sales.
Furthermore, the improvement in gross profit margin, higher e-commerce sales, and the decrease in the selling & marketing expenses as well as general & administrative expenses contributed to the increase of in profit.
The company’s Q4 2020 net profit after Zakat and tax surged to SAR 24.2 million from SAR 6 million in the same period a year earlier.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 392.08 | 402.05 | 2.5 % |
| Gross Income | 85.84 | 80.84 | (5.8 %) |
| Operating Income | 18.48 | 45.59 | 146.7 % |
| Net Income | 6.06 | 24.19 | 299.2 % |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 0.17 | 0.67 | 299.2 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 332.14 | 402.05 | 21.0 % |
| Gross Income | 67.24 | 80.84 | 20.2 % |
| Operating Income | 27.60 | 45.59 | 65.1 % |
| Net Income | 16.48 | 24.19 | 46.8 % |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 0.46 | 0.67 | 46.8 % |
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