Saudi Company for Hardware (SACO) reported a net profit after Zakat and tax of SAR 30.1 million in the first half of 2021, a 33% decrease from SAR 44.9 million in the same period last year.
The decrease was mainly due to a decline of 11.9% year-on-year (YoY) in sales.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 747.57 | 661.29 | (11.5 %) |
| Gross Income | 148.34 | 131.06 | (11.6 %) |
| Operating Income | 73.46 | 50.19 | (31.7 %) |
| Net Income | 44.86 | 30.08 | (33.0 %) |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 1.25 | 0.84 | (33.0 %) |
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 389.53 | 323.66 | (16.9 %) |
| Gross Income | 85.95 | 62.81 | (26.9 %) |
| Operating Income | 47.93 | 22.95 | (52.1 %) |
| Net Income | 33.14 | 14.44 | (56.4 %) |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 0.92 | 0.40 | (56.4 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 337.63 | 323.66 | (4.1 %) |
| Gross Income | 68.26 | 62.81 | (8.0 %) |
| Operating Income | 27.24 | 22.95 | (15.8 %) |
| Net Income | 15.63 | 14.44 | (7.6 %) |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 0.43 | 0.40 | (7.6 %) |
SACO’s net profit after Zakat and tax plunged 56% to SAR 14.4 million in Q2 2021, compared to the same period last year, as Eid al-Fitr holidays led to a decline in sales.
The firm also noted an increase in selling and marketing expenses.
On a sequential basis, Q2 2021 net profit dipped 7.6% from SAR 15.63 million.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}