Tasnee’s Q1 net profit triples on higher prices

24/04/2018 Argaam Exclusive

National Industrialization Co. (Tasnee) posted a net profit of SAR 361.4 million for the first quarter of 2018, more than triple year-on-year (YoY), on higher selling prices of titanium dioxide products and lower financial charges, despite increased general and administrative expenses.

 

Tasnee also generated higher profit from associates and joint ventures on improved operating performance.

Compared to the previous quarter, Q1 net profit climbed 10.28 percent, backed by strong operating performance and higher profit share from associates and JVs.

 

Meanwhile, gross profit surged 91.61 percent YoY to SAR 818 million in the same quarter.



Current Quarter Comparison (M)

Compared With The
Item Q1 2017 Q1 2018 Change‬
Revenues 2,480.53 620.13 (75.0 %)
Gross Income 426.87 77.46 (81.9 %)
Operating Income 26.53 (110.55) (516.7 %)
Net Income 103.34 361.36 249.7 %
Average Shares 668.91 668.91 -
EPS (Riyals) 0.15 0.54 249.7 %

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