Saudi Vitrified Clay Pipes Co. (SVCP) reported a net profit after Zakat and tax of SAR 9.2 million for the first nine months of 2020, a more than twofold increase, compared to SAR 3.7 million in the same period last year, driven by increased sales revenue.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 82.02 | 96.67 | 17.9 % |
| Gross Income | 23.45 | 31.39 | 33.8 % |
| Operating Income | 6.24 | 11.56 | 85.2 % |
| Net Income | 3.68 | 9.18 | 149.3 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.25 | 0.61 | 149.3 % |
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 28.36 | 28.09 | (1.0 %) |
| Gross Income | 7.85 | 8.00 | 1.9 % |
| Operating Income | 2.45 | 1.83 | (25.4 %) |
| Net Income | 1.45 | 0.91 | (37.6 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.10 | 0.06 | (37.6 %) |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 28.03 | 28.09 | 0.2 % |
| Gross Income | 10.04 | 8.00 | (20.3 %) |
| Operating Income | 3.63 | 1.83 | (49.7 %) |
| Net Income | 2.86 | 0.91 | (68.3 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.19 | 0.06 | (68.3 %) |
Net profit after Zakat and tax for the third quarter retreated by 38% YoY to nearly SAR 910,000, due to higher operating expenses.
On a quarter-on-quarter basis, the profit for the current quarter plunged 68.1%, on higher cost of sales.
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