Saudi Chemical Holding Co. reported a net profit after Zakat and tax of SAR 97 million for the first nine months of 2020, a 16% increase, compared to SAR 83.6 million in the same period a year earlier.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 2,353.20 | 2,469.65 | 4.9 % |
| Gross Income | 359.73 | 362.61 | 0.8 % |
| Operating Income | 142.27 | 151.03 | 6.2 % |
| Net Income | 83.60 | 96.99 | 16.0 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.10 | 0.12 | 16.0 % |
The increase is attributed to higher sales and lower general and administrative expenses, and finance costs.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 737.05 | 811.35 | 10.1 % |
| Gross Income | 113.62 | 104.92 | (7.7 %) |
| Operating Income | 35.53 | 38.55 | 8.5 % |
| Net Income | 13.40 | 18.85 | 40.7 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.02 | 0.02 | 40.7 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 858.72 | 811.35 | (5.5 %) |
| Gross Income | 125.24 | 104.92 | (16.2 %) |
| Operating Income | 58.17 | 38.55 | (33.7 %) |
| Net Income | 40.17 | 18.85 | (53.1 %) |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.05 | 0.02 | (53.1 %) |
The company also reported a 41% year-on-year (YoY) increase in Q3 2020 net profit after Zakat and tax to SAR 18.9 million, due to higher sales and lower provision of trade receivables and finance costs.
When compared to the previous quarter, Q3 2020 net profit fell 53% due to lower sales and higher Zakat provision.
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