Thob Al Aseel Co. posted a net profit after Zakat and tax of SAR 75.8 million for the first nine months of 2020, a rise of 9% year-on-year (YoY), compared to SAR 69.8 million in the same period a year earlier.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 370.96 | 421.38 | 13.6 % |
| Gross Income | 140.74 | 149.41 | 6.2 % |
| Operating Income | 80.41 | 88.32 | 9.8 % |
| Net Income | 69.75 | 75.76 | 8.6 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.17 | 0.19 | 8.6 % |
The company attributed the profit increase to higher sales and gross profit.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 79.65 | 110.08 | 38.2 % |
| Gross Income | 29.16 | 31.57 | 8.2 % |
| Operating Income | 9.29 | 10.57 | 13.8 % |
| Net Income | 5.21 | 5.92 | 13.6 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.01 | 0.01 | 13.6 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 193.84 | 110.08 | (43.2 %) |
| Gross Income | 74.86 | 31.57 | (57.8 %) |
| Operating Income | 56.01 | 10.57 | (81.1 %) |
| Net Income | 52.32 | 5.92 | (88.7 %) |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.13 | 0.01 | (88.7 %) |
In Q3 2020, the company reported a net profit after Zakat and tax of SAR 5.9 million, a 13.6% rise, driven by a 38.22% YoY growth in sales due to new product launch and the signing of a contract for medical supplies.
When compared to the previous quarter, net profit plunged 88.6% on lower sales and seasonality factors.
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