Bawan Co. reported net profit after Zakat and tax of SAR 60.2 million, a more than two-fold jump year-on-year (YoY), for the first nine months of 2020, driven by higher revenue, increased profit margins and robust gross profit.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 1,641.57 | 1,713.83 | 4.4 % |
| Gross Income | 187.19 | 228.38 | 22.0 % |
| Operating Income | 48.33 | 86.83 | 79.7 % |
| Net Income | 21.33 | 60.24 | 182.4 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.36 | 1.00 | 182.4 % |
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 525.59 | 548.78 | 4.4 % |
| Gross Income | 57.07 | 86.93 | 52.3 % |
| Operating Income | 12.34 | 36.41 | 195.1 % |
| Net Income | 3.26 | 29.58 | 806.7 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.05 | 0.49 | 806.7 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 520.90 | 548.78 | 5.4 % |
| Gross Income | 61.21 | 86.93 | 42.0 % |
| Operating Income | 18.76 | 36.41 | 94.1 % |
| Net Income | 15.46 | 29.58 | 91.3 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.26 | 0.49 | 91.3 % |
The third-quarter net profit after Zakat and tax increased by nearly nine-fold YoY to SAR 29.6 million, backed by higher gross profit, robust revenue, and lower expenses.
On a sequential basis, Q3 2020 net profit surged by 91.25%.
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