Basic Chemical Industries Co. (BCI) reported a net profit after Zakat and tax of SAR 21.2 million for the first half of 2020, an increase of 35% year-on-year (YoY), on higher sales along with a decline in general and administrative expenses, and Zakat charges.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 261.10 | 272.10 | 4.2 % |
| Gross Income | 63.48 | 70.76 | 11.5 % |
| Operating Income | 27.62 | 34.40 | 24.6 % |
| Net Income | 15.80 | 21.09 | 33.4 % |
| Average Shares | 27.50 | 27.50 | - |
| EPS (Riyals) | 0.57 | 0.77 | 33.4 % |
The second-quarter net profit grew by 13% YoY to SAR 10.8 million, driven by higher sales along with a decline in selling and marketing expenses, as well as Zakat charges.
When compared to the previous quarter, net profit rose marginally by 1.7% on a decrease in selling and marketing expenses, as well as Zakat charges.
Shareholders’ equity, excluding minority interest, stood at SAR 543.78 million by the end of June 2020, compared to SAR 523 million a year earlier.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 130.12 | 131.14 | 0.8 % |
| Gross Income | 34.12 | 34.78 | 1.9 % |
| Operating Income | 16.16 | 17.17 | 6.2 % |
| Net Income | 9.69 | 10.66 | 10.1 % |
| Average Shares | 27.50 | 27.50 | - |
| EPS (Riyals) | 0.35 | 0.39 | 10.1 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 140.96 | 131.14 | (7.0 %) |
| Gross Income | 35.98 | 34.78 | (3.3 %) |
| Operating Income | 17.23 | 17.17 | (0.4 %) |
| Net Income | 10.42 | 10.66 | 2.3 % |
| Average Shares | 27.50 | 27.50 | - |
| EPS (Riyals) | 0.38 | 0.39 | 2.3 % |
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