Savola Group reported net profit after Zakat and tax of SAR 172.8 million in Q1 2020, compared to SAR 6.3 million in year earlier period, driven by higher gross profit, higher sales, and improved profit margins in food and retail segments.
Savola also cited higher profit share from associates, and lower operating expenses.
On a sequential basis, Q1 2020 net profit after Zakat and tax increased 25.8%.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 5,387.89 | 5,922.88 | 9.9 % |
| Gross Income | 1,065.47 | 1,223.00 | 14.8 % |
| Operating Income | 91.74 | 273.38 | 198.0 % |
| Net Income | 6.33 | 172.76 | 2629.1 % |
| Average Shares | 533.98 | 533.98 | - |
| EPS (Riyals) | 0.01 | 0.32 | 2629.1 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 5,231.73 | 5,922.88 | 13.2 % |
| Gross Income | 1,191.50 | 1,223.00 | 2.6 % |
| Operating Income | 211.54 | 273.38 | 29.2 % |
| Net Income | 137.31 | 172.76 | 25.8 % |
| Average Shares | 533.98 | 533.98 | - |
| EPS (Riyals) | 0.26 | 0.32 | 25.8 % |
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