Al Hammadi Company for Development and Investment reported net profit after Zakat and tax of SAR 75.8 million for H1 2021, a rise of 18%, from net profit of SAR 64.1 million in the prior-year period, driven by lower cost of finance, decreased Zakat expenses and higher operating revenue.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 450.99 | 450.19 | (0.2 %) |
| Gross Income | 157.29 | 167.37 | 6.4 % |
| Operating Income | 86.99 | 56.32 | (35.3 %) |
| Net Income | 64.05 | 75.84 | 18.4 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.40 | 0.47 | 18.4 % |
The second-quarter net profit rose 3 % YoY to SAR 40.3 million, backed by higher revenue from the medical services as well as the pharmaceuticals segments.
The company also cited lower cost of finance and decreased Zakat expenses.
On a sequential basis, net profit increased by 13.39%.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 244.30 | 223.90 | (8.4 %) |
| Gross Income | 90.81 | 79.96 | (11.9 %) |
| Operating Income | 53.15 | 33.63 | (36.7 %) |
| Net Income | 39.10 | 40.31 | 3.1 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.24 | 0.25 | 3.1 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 226.29 | 223.90 | (1.1 %) |
| Gross Income | 87.41 | 79.96 | (8.5 %) |
| Operating Income | 22.69 | 33.63 | 48.2 % |
| Net Income | 35.54 | 40.31 | 13.4 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.22 | 0.25 | 13.4 % |
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