Financial Results : Al Jouf Agricultural posts net profit of SAR 18.4 mln H1 2020

Al Jouf Agricultural posts net profit of SAR 18.4 mln H1 2020

20/08/2020 Argaam Exclusive

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Al-Jouf Agricultural Development Co. reported an over twofold increase in net profit after Zakat and tax to SAR 18.4 million for H1 2020, from SAR 7.7 million a year earlier, on higher sales and profit margins.



Financials (M)

Item 6m 2019 6m 2020 Change‬
Revenues 94.33 118.09 25.2 %
Gross Income 25.38 48.14 89.7 %
Operating Income 8.78 31.83 262.4 %
Net Income 7.69 18.42 139.4 %
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) 0.26 0.61 139.4 %
EPS (Riyal) 0.26 0.61 139.4 %

The second-quarter net profit after Zakat and tax surged to SAR 11.9 million, from SAR 1.2 million in Q2 2019, buoyed by a rise in sales and profit margins despite higher other expenses.

 

On a sequential basis, net profit surged 81.3% driven by sales growth.



Current Quarter Comparison (M)

Compared With The
Item Q2 2019 Q2 2020 Change‬
Revenues 44.69 71.97 61.0 %
Gross Income 9.39 28.98 208.7 %
Operating Income 1.26 20.07 1487.7 %
Net Income 1.16 11.87 920.0 %
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyal) 0.04 0.40 920.0 %
EPS (Riyal) 0.04 0.40 920.0 %

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