Zahrat Al Waha for Trading Co. reported a net profit after Zakat and tax of SAR 36.6 million for the first half of 2021, an 87% increase from SAR 19.5 million in the year-ago period.
The company attributed the increase in net profit to higher sales, other revenue and profits at fair value from investment portfolio.
Lower cost of goods sold, selling and distribution expenses, general and administrative expenses, and financing costs were also cited for the profit rise.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 232.26 | 242.73 | 4.5 % |
| Gross Income | 35.61 | 42.39 | 19.0 % |
| Operating Income | 26.75 | 33.13 | 23.8 % |
| Net Income | 19.53 | 36.60 | 87.4 % |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.87 | 1.63 | 87.4 % |
The company reported a net profit after Zakat and tax of SAR 16.3 million in Q2 2021, up from SAR 6.6 million in year-ago period, on higher sales and other revenue.
When compared to previous quarter, net profit fell 19.9% on higher cost of goods sold and general and administrative expenses.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 108.62 | 124.59 | 14.7 % |
| Gross Income | 14.67 | 19.75 | 34.6 % |
| Operating Income | 10.31 | 15.15 | 46.9 % |
| Net Income | 6.62 | 16.28 | 145.9 % |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.29 | 0.72 | 145.9 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 118.14 | 124.59 | 5.5 % |
| Gross Income | 22.64 | 19.75 | (12.8 %) |
| Operating Income | 17.98 | 15.15 | (15.7 %) |
| Net Income | 20.32 | 16.28 | (19.9 %) |
| Average Shares | 22.50 | 22.50 | - |
| EPS (Riyals) | 0.90 | 0.72 | (19.9 %) |
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