Mohammed Hasan Al Naqool Sons Co., which was listed on Nomu–Parallel Market in June, reported a net profit after Zakat and Tax of SAR 9.2 million in 2021, a 42% increase compared to SAR 6.5 million the year before.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 44.84 | 53.32 | 18.9 % |
| Gross Income | 10.21 | 11.01 | 7.9 % |
| Operating Income | 6.58 | 8.16 | 23.9 % |
| Net Income | 6.48 | 9.21 | 42.1 % |
| Average Shares | 2.90 | 2.90 | - |
| EPS (Riyals) | 2.23 | 3.17 | 42.1 % |
The company attributed the rise in net profit to an 18.9% increase in revenues and a 4.4% drop in operating costs, along with a 9.2% decrease in administrative expenses in 2021. Al Naqool also logged SAR 1.2 million in net profit as a result of its investment in the Graphene Venture Fund.
Shareholders’ equity, excluding minority interest, stood at SAR 50.229 million as of Dec. 31, 2021, compared to SAR 41.023 million a year earlier.
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