Zahrat Al Waha for Trading Co. reported a net profit after Zakat and tax of SAR 12.9 million for the first quarter of 2020, a rise of 41% year-on-year (YoY).
The profit hike was driven by decline in cost of sales and financial charges.
On a sequential basis, net profit after Zakat and tax fell by 42.3%, driven by higher cost of sales, and increased selling and distribution expenses, as well as general and administrative (G&A) expenses.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 129.89 | 123.65 | (4.8 %) |
| Gross Income | 16.80 | 20.95 | 24.7 % |
| Operating Income | 13.40 | 16.44 | 22.7 % |
| Net Income | 9.13 | 12.91 | 41.4 % |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.41 | 0.57 | 41.4 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 109.45 | 123.65 | 13.0 % |
| Gross Income | 30.15 | 20.95 | (30.5 %) |
| Operating Income | 26.41 | 16.44 | (37.8 %) |
| Net Income | 22.39 | 12.91 | (42.3 %) |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 1.00 | 0.57 | (42.3 %) |
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