Bawan Co. reported net profit after Zakat and tax of SAR 26.6 million for the fiscal year 2019, against net losses of SAR 218.4 million a year earlier.
Net profit was driven by higher gross profit, increased revenue and lower Zakat. The company also indicated that FY2018 financial statements included losses from non-operating goodwill impairment at SAR 169.8 billion in addition to an asset impairment of SAR 19.4 billion.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 1,953.46 | 2,235.23 | 14.4 % |
| Gross Income | 155.58 | 249.20 | 60.2 % |
| Operating Income | (0.46) | 52.70 | 11457.5 % |
| Net Income | (218.35) | 26.63 | 112.2 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (3.64) | 0.44 | 112.2 % |
Bawan reported net profit of SAR 5.3 million in Q4 2019, versus net losses of SAR 230.4 million in Q4 2018.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 521.52 | 593.66 | 13.8 % |
| Gross Income | 19.14 | 62.00 | 223.9 % |
| Operating Income | (29.82) | 4.37 | 114.7 % |
| Net Income | (229.84) | 5.30 | 102.3 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (3.83) | 0.09 | 102.3 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 525.59 | 593.66 | 13.0 % |
| Gross Income | 57.07 | 62.00 | 8.6 % |
| Operating Income | 12.34 | 4.37 | (64.6 %) |
| Net Income | 3.26 | 5.30 | 62.4 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.05 | 0.09 | 62.4 % |
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