Saudi Industrial Services Co. (SISCO) posted an increase of 57.4% year-on-year (YoY) in net profit after Zakat and tax to SAR 26.6 million for Q1 2020, driven by a rise of SAR 5.8 million in other income.
It was also bolstered by an IFRS 9 gain of SAR 32 million, on the extension of the port segment's existing Ijara facility.
When compared to Q4 2019, net profit after Zakat and tax surged over four-fold from SAR 5.9 million, thanks to higher revenue from the ports and logistics segments, along with a rise in other income and an IFRS 9 gain of SAR 32 million.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 166.52 | 167.29 | 0.5 % |
| Gross Income | 72.67 | 53.17 | (26.8 %) |
| Operating Income | 33.31 | 13.41 | (59.7 %) |
| Net Income | 16.90 | 26.60 | 57.4 % |
| Average Shares | 81.60 | 81.60 | - |
| EPS (Riyals) | 0.21 | 0.33 | 57.4 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 156.52 | 167.29 | 6.9 % |
| Gross Income | 39.92 | 53.17 | 33.2 % |
| Operating Income | 1.87 | 13.41 | 616.7 % |
| Net Income | 5.94 | 26.60 | 347.6 % |
| Average Shares | 81.60 | 81.60 | - |
| EPS (Riyals) | 0.07 | 0.33 | 347.6 % |
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