Al-Hassan Ghazi Ibrahim Shaker Co. reported a net profit after Zakat and tax of SAR 6.2 million for the first nine months of 2020, against a net loss after Zakat and tax of SAR 45.3 million in the prior-year period.
The higher profit was spurred by a marginal rise in sales revenue, lower operating expenses as a result of organizational restructuring and a decline in rental costs.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 698.71 | 736.21 | 5.4 % |
| Gross Income | 130.36 | 154.15 | 18.2 % |
| Operating Income | (21.80) | 6.81 | 131.2 % |
| Net Income | (42.39) | 8.28 | 119.5 % |
| Average Shares | 55.50 | 55.50 | - |
| EPS (Riyals) | (0.76) | 0.15 | 119.5 % |
In Q3 2020, the company logged a net profit after Zakat and tax of SAR 4.4 million, compared to a net loss of SAR 6.7 million a year earlier, backed by a 5.4% year-on-year rise in sales revenue, lower operating expenses as a result of organizational restructuring and a decline in rental costs.
When compared to the previous quarter, Shaker net profit decreased by 13.7%, on a 7.6% YoY drop in sales revenue.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 247.84 | 247.47 | (0.2 %) |
| Gross Income | 49.05 | 52.67 | 7.4 % |
| Operating Income | (3.12) | 3.97 | 227.3 % |
| Net Income | (6.05) | 3.59 | 159.3 % |
| Average Shares | 55.50 | 55.50 | - |
| EPS (Riyals) | (0.11) | 0.06 | 159.3 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 267.77 | 247.47 | (7.6 %) |
| Gross Income | 52.12 | 52.67 | 1.1 % |
| Operating Income | 8.01 | 3.97 | (50.4 %) |
| Net Income | 7.62 | 3.59 | (52.9 %) |
| Average Shares | 55.50 | 55.50 | - |
| EPS (Riyals) | 0.14 | 0.06 | (52.9 %) |
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