Financial Results : SVCP posts 22% profit growth to SAR 10.7 mln for 2020

SVCP posts 22% profit growth to SAR 10.7 mln for 2020

01/03/2021 Argaam Exclusive

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Saudi Vitrified Clay Pipes Co. (SVCP) reported net profit after Zakat and tax of SAR 10.7 million in 2020, up 22% from SAR 8.8 million a year earlier.



Financials (M)

Item 2019 2020 Change‬
Revenues 122.62 123.37 0.6 %
Gross Income 38.10 39.97 4.9 %
Operating Income 11.99 13.04 8.7 %
Net Income 8.78 10.68 21.6 %
Average Shares 15.00 15.00 -
Earnings Per Share before unusual items (Riyals) 0.59 0.71 21.6 %
EPS (Riyals) 0.59 0.71 21.6 %

The profit increase was driven by higher revenue and lower cost of goods sold (COGS).



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 40.60 26.70 (34.2 %)
Gross Income 14.65 8.59 (41.4 %)
Operating Income 5.75 1.48 (74.3 %)
Net Income 5.10 1.50 (70.6 %)
Average Shares 15.00 15.00 -
Earnings Per Share before unusual items (Riyals) 0.34 0.10 (70.6 %)
EPS (Riyals) 0.34 0.10 (70.6 %)

The Q4 2020 net profit after Zakat and tax plunged 70% to SAR 1.5 million, from SAR 5.1 million in prior year period.

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