Al-Omran Industrial Trading Co. reported a net profit after Zakat and tax of SAR 8.8 million for the first nine months of 2021, an increase of more than two-fold, from SAR 3.6 million in a year-earlier period.
This profit surge was driven by higher selling prices.
Q3 2021 net profit after Zakat and tax dropped 15% year-on-year (YoY) to SAR 1.6 million on higher cost of sales and increased financing costs.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 116.34 | 114.45 | (1.6 %) |
| Gross Income | 21.43 | 26.45 | 23.4 % |
| Operating Income | 6.27 | 11.60 | 85.1 % |
| Net Income | 3.60 | 8.88 | 146.5 % |
| Average Shares | 10.21 | 10.21 | - |
| EPS (Riyals) | 0.35 | 0.87 | 146.5 % |
On a sequential basis, net profit after Zakat declined 62.6%, on lower sales.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 23.04 | 32.60 | 41.5 % |
| Gross Income | 7.75 | 7.68 | (0.8 %) |
| Operating Income | 2.79 | 2.58 | (7.5 %) |
| Net Income | 1.94 | 1.63 | (16.0 %) |
| Average Shares | 10.21 | 10.21 | - |
| EPS (Riyals) | 0.19 | 0.16 | (16.0 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 43.20 | 32.60 | (24.5 %) |
| Gross Income | 9.77 | 7.68 | (21.4 %) |
| Operating Income | 5.26 | 2.58 | (51.0 %) |
| Net Income | 4.42 | 1.63 | (63.2 %) |
| Average Shares | 10.21 | 10.21 | - |
| EPS (Riyals) | 0.43 | 0.16 | (63.2 %) |
Total shareholders’ equity (after deducting minority equity) grew 4.2% YoY to SAR 115.91 million in the nine-month period.
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