Al-Omran Industrial Trading Co. reported a net profit after Zakat and tax of SAR 2.8 million for the first quarter of 2021, compared to a net profit of SAR 14,000 a year earlier.
The profit increase is driven by a rise in sales and profit margins, due to higher pricing.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 31.58 | 38.65 | 22.4 % |
| Gross Income | 4.33 | 9.00 | 107.7 % |
| Operating Income | 0.45 | 3.76 | 734.6 % |
| Net Income | 0.04 | 2.84 | 7573.0 % |
| Average Shares | 10.21 | 10.21 | - |
| EPS (Riyals) | 0.00 | 0.28 | 7573.0 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 23.02 | 38.65 | 67.9 % |
| Gross Income | 8.64 | 9.00 | 4.1 % |
| Operating Income | (2.59) | 3.76 | 245.5 % |
| Net Income | (2.80) | 2.84 | 201.6 % |
| Average Shares | 10.21 | 10.21 | - |
| EPS (Riyals) | (0.27) | 0.28 | 201.6 % |
When compared to the previous quarter, Al-Omran turned profitable from a net loss of SAR 3 million, thanks to higher sales.
Moreover, the provision for credit losses increased in the previous quarter by SAR 4.3 million, and a provision of SAR 1.68 million was allocated for inventory created in the previous quarter.
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