Saudi Vitrified Clay Pipes Co. (SVCP) reported net profit after Zakat and tax of SAR 8.3 million for the first half of 2020, an increase of more than three-fold year-on-year (YoY), driven by increased sales revenue and lower cost of sales.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 53.66 | 68.58 | 27.8 % |
| Gross Income | 15.60 | 23.39 | 49.9 % |
| Operating Income | 3.78 | 9.73 | 157.2 % |
| Net Income | 2.22 | 8.27 | 273.0 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.15 | 0.55 | 273.0 % |
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 23.53 | 28.03 | 19.1 % |
| Gross Income | 7.33 | 10.04 | 36.8 % |
| Operating Income | 1.36 | 3.63 | 166.7 % |
| Net Income | 0.61 | 2.86 | 365.1 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.04 | 0.19 | 365.1 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 40.55 | 28.03 | (30.9 %) |
| Gross Income | 13.35 | 10.04 | (24.8 %) |
| Operating Income | 6.10 | 3.63 | (40.4 %) |
| Net Income | 5.41 | 2.86 | (47.2 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.36 | 0.19 | (47.2 %) |
Net profit after Zakat and tax for the second quarter increased by more than four-fold YoY to SAR 2.9 million, due to higher sales revenue and lower cost of sales.
On a quarter-on-quarter basis, the profit for the current quarter plunged 47.1%.
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