Sisco's H1 net profit jumps 28% to SAR 43.7 mln

13/07/2015 Argaam Exclusive

 

Saudi Industrial Services Co. (SISCO), which operates the Red Sea Gateway Terminal (RSGT), reported a net profit of SAR 43.69 million for H1-2015, 28.17 percent higher compared to the same period in 2014.



Financials (M)

Item 6m 2014 6m 2015 Change‬
Revenues 264.53 310.77 17.5 %
Gross Income 128.19 156.73 22.3 %
Operating Income 68.04 85.67 25.9 %
Net Income 34.09 43.69 28.2 %
Average Shares 81.60 81.60 -
EPS (Riyals) 0.42 0.54 28.2 %

 

The year-on-year profit increase was mainly driven by higher operating income and improved port operations. In addition, the company received insurance compensation of SAR 5.4 million in 2014.

 

For Q2-2015, Sisco's net profit stood at SAR 25.22 million, 36.59 percent higher than in the previous quarter. 

 

When compared to second quarter of 2014, the net profit for the period rose 16.13 percent, bolstered also by the port operator’s higher profit share from associates.



Current Quarter Comparison (M)

Compared With The
Item Q2 2014 Q2 2015 Change‬
Revenues 143.10 164.46 14.9 %
Gross Income 71.87 82.57 14.9 %
Operating Income 40.99 50.08 22.2 %
Net Income 21.72 25.22 16.1 %
Average Shares 81.60 81.60 -
EPS (Riyals) 0.27 0.31 16.1 %

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