National Gas and Industrialization Co. (GASCO) reported a net profit after Zakat and tax of SAR 136.9 million for 2020, a 25% increase, compared to SAR 109.4 million in 2019.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 1,922.56 | 1,963.04 | 2.1 % |
| Gross Income | 242.92 | 222.51 | (8.4 %) |
| Operating Income | 27.37 | 39.85 | 45.6 % |
| Net Income | 109.44 | 136.89 | 25.1 % |
| Average Shares | 75.00 | 75.00 | - |
| EPS (Riyals) | 1.46 | 1.83 | 25.1 % |
The company attributed the increase in profit to higher revenue, lower operating expenses, higher share in results of associates and higher other income mainly due to selling trucks and scraps, as well as lower Zakat expenses.
In Q4 2020, the company turned to a net profit after Zakat and tax of SAR 86.5 million compared to a net loss of SAR 22.3 million in the same period a year earlier.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 502.13 | 500.80 | (0.3 %) |
| Gross Income | 37.21 | 54.75 | 47.1 % |
| Operating Income | (51.23) | 18.73 | 136.6 % |
| Net Income | (22.32) | 82.08 | 467.8 % |
| Average Shares | 75.00 | 75.00 | - |
| EPS (Riyals) | (0.30) | 1.09 | 467.8 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 453.71 | 500.80 | 10.4 % |
| Gross Income | 44.04 | 54.75 | 24.3 % |
| Operating Income | (3.89) | 18.73 | 581.8 % |
| Net Income | 17.03 | 82.08 | 381.9 % |
| Average Shares | 75.00 | 75.00 | - |
| EPS (Riyals) | 0.23 | 1.09 | 381.9 % |
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