Financial Results : BCI H1 2021 profit down 4.3% to SAR 29.1 mln

BCI H1 2021 profit down 4.3% to SAR 29.1 mln

19/08/2021 Argaam Exclusive

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Basic Chemical Industries Co. (BCI) reported a net profit after Zakat and tax of SAR 29 million for the first half of 2021, down 4.3% from SAR 30.4 million in the same period a year earlier.

 

The company attributed the profit drop to lower sales and other operating income, and higher general and administrative expenses.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 272.10 244.69 (10.1 %)
Gross Income 70.76 74.08 4.7 %
Operating Income 34.40 33.99 (1.2 %)
Net Income 21.09 15.56 (26.2 %)
Average Shares 27.50 27.50 -
Earnings Per Share before unusual items (Riyals) 0.77 0.57 (26.2 %)
EPS (Riyal) 0.77 0.57 (26.2 %)

BCI reported 4.4% year-on-year (YoY) decline in Q2 2021 net profit after Zakat and tax to SAR 14.6 million, driven by lower sales.

 

When compared to the previous quarter, net profit rose marginally by 1.5% on lower Zakat and income tax expenses.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 131.14 118.60 (9.6 %)
Gross Income 34.78 36.77 5.7 %
Operating Income 17.17 16.33 (4.9 %)
Net Income 10.66 8.13 (23.8 %)
Average Shares 27.50 27.50 -
Earnings Per Share before unusual items (Riyal) 0.39 0.30 (23.8 %)
EPS (Riyal) 0.39 0.30 (23.8 %)

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