Astra Industrial Group’s H1 2022 net profit after Zakat and tax more than tripled to SAR 317.8 million, from SAR 105.2 million a year earlier.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 1,127.63 | 1,243.06 | 10.2 % |
| Gross Income | 463.38 | 499.64 | 7.8 % |
| Operating Income | 188.23 | 186.71 | (0.8 %) |
| Net Income | 105.21 | 317.79 | 202.1 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 1.32 | 3.97 | 202.1 % |
The group cited gains from discontinued operations, along with higher sales and gross profit from the pharmaceuticals and specialty chemicals segments.
It also reported a decline in other expenses in the pharmaceuticals segment, and lower provision for impairment of financial assets in all segments.
On the other hand, Astra recorded an increase in selling and distribution expenses, as well as general and administrative (G&A) expenses in all segments.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 533.09 | 608.54 | 14.2 % |
| Gross Income | 205.37 | 225.76 | 9.9 % |
| Operating Income | 71.02 | 91.40 | 28.7 % |
| Net Income | 54.60 | 243.10 | 345.2 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.68 | 3.04 | 345.2 % |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 634.52 | 608.54 | (4.1 %) |
| Gross Income | 273.88 | 225.76 | (17.6 %) |
| Operating Income | 95.31 | 91.40 | (4.1 %) |
| Net Income | 74.69 | 243.10 | 225.5 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.93 | 3.04 | 225.5 % |
In Q2 2022, net profit after Zakat and tax skyrocketed to SAR 243.1 million, from SAR 54.60 million in the prior-year period, driven by gains from discontinued operations, along with higher sales and gross profit from the pharmaceuticals and specialty chemicals segments.
Compared to Q1 2022, net profit increased by over threefold from SAR 74.69 million, on lower selling and distribution expenses, as well as G&A.
Shareholders’ equity, after minority interest, stood at SAR 1.644 billion as of June 30, 2022, up from SAR 1.352 billion a year earlier.
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