Saudi Company for Hardware’s (SACO) net profit after Zakat and tax rose 10% year-on-year (YoY) to SAR 61.3 million for the first nine months of 2020, driven by higher sales revenue, and increased gross profit margins.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 1,065.68 | 1,079.71 | 1.3 % |
| Gross Income | 195.82 | 215.59 | 10.1 % |
| Operating Income | 89.19 | 101.07 | 13.3 % |
| Net Income | 55.58 | 61.34 | 10.4 % |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 1.54 | 1.70 | 10.4 % |
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 351.61 | 332.14 | (5.5 %) |
| Gross Income | 67.13 | 67.24 | 0.2 % |
| Operating Income | 26.45 | 27.60 | 4.4 % |
| Net Income | 14.65 | 16.48 | 12.5 % |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 0.41 | 0.46 | 12.5 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 389.53 | 332.14 | (14.7 %) |
| Gross Income | 85.95 | 67.24 | (21.8 %) |
| Operating Income | 47.93 | 27.60 | (42.4 %) |
| Net Income | 33.14 | 16.48 | (50.3 %) |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 0.92 | 0.46 | (50.3 %) |
The third-quarter net profit after Zakat and tax increased 13% YoY to SAR 16.5 million, backed by higher gross profit margin, and lower general and administrative expenses.
On a sequential basis, Q3 2020 net profit plunged 50.3%.
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