Al Hassan Ghazi Ibrahim Shaker Co. (Shaker) reported a net profit after Zakat and tax of SAR 15.1 million for the first half of 2021, a rise of more than three times from SAR 4.4 million a year earlier.
The profit surge was driven by an 18.2% rise year-on-year (YoY) in revenue. Gross profit also grew by 17.2% YoY, while finance costs dropped 32.2% YoY.
Operating profit improved to SAR 16 million in H1 2021 compared to SAR 3.4 million a year earlier.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 488.75 | 577.78 | 18.2 % |
| Gross Income | 101.48 | 118.96 | 17.2 % |
| Operating Income | 2.84 | 16.27 | 473.6 % |
| Net Income | 4.69 | 15.08 | 221.4 % |
| Average Shares | 48.23 | 48.23 | - |
| EPS (Riyals) | 0.10 | 0.31 | 221.4 % |
In Q2 2021, net profit after Zakat and tax climbed 15% to SAR 8.8 million from SAR 7.6 million in the year-ago period, thanks to a 8.1% YoY revenue growth. Gross profit also increased by 17.7% YoY.
Sequentially, Shaker’s net profit after Zakat and tax skyrocketed 92.9% from SAR 4.5 million.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 267.77 | 289.48 | 8.1 % |
| Gross Income | 52.12 | 61.33 | 17.7 % |
| Operating Income | 8.01 | 15.20 | 89.7 % |
| Net Income | 7.62 | 8.76 | 14.9 % |
| Average Shares | 48.23 | 48.23 | - |
| EPS (Riyals) | 0.16 | 0.18 | 14.9 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 288.30 | 289.48 | 0.4 % |
| Gross Income | 57.63 | 61.33 | 6.4 % |
| Operating Income | 1.07 | 15.20 | 1320.3 % |
| Net Income | 6.32 | 8.76 | 38.5 % |
| Average Shares | 48.23 | 48.23 | 0.0 % |
| EPS (Riyals) | 0.13 | 0.18 | 38.5 % |
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