Financial Results : SARCO posts SAR 17.2 mln net profit in FY2019

SARCO posts SAR 17.2 mln net profit in FY2019

12/03/2020 Argaam Exclusive

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Saudi Arabia Refineries Co. (SARCO) reported a net profit after Zakat and tax of SAR 17.2 million for the fiscal year of 2019, an increase of 18% year-on-year (YoY), from SAR 14.6 million a year ealier.

 

The profit increase was driven by SAR 22.79 million in dividends from its affiliate Saudi Industrial Investment Co.



Financials (M)

Item 2018 2019 Change‬
Operating Income (3.17) (3.14) 1.0 %
Net Income 14.56 17.17 18.0 %
Average Shares 15.00 15.00 -
EPS (Riyals) 0.97 1.14 18.0 %

In Q4 2019, net profit edged down 3% YoY to SAR 9 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Operating Income (1.04) (1.39) (33.4 %)
Net Income 9.37 9.04 (3.5 %)
Average Shares 15.00 15.00 -
EPS (Riyals) 0.62 0.60 (3.5 %)

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