Almarai’s consolidated net profit after Zakat and tax jumped 12% year-on-year (YoY) to SAR 1.026 billion in H1 2020, thanks to better revenue and gross profit, along with a decline in finance costs.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 7,074.08 | 7,674.28 | 8.5 % |
| Gross Income | 2,627.89 | 2,788.38 | 6.1 % |
| Operating Income | 1,285.10 | 1,303.65 | 1.4 % |
| Net Income | 918.56 | 1,026.94 | 11.8 % |
| Average Shares | 1,000.00 | 1,000.00 | - |
| EPS (Riyals) | 0.92 | 1.03 | 11.8 % |
Q2 2020 net profit after Zakat and tax climbed 11% YoY to SAR 643.9 million, driven by revenue growth from foods, long-life dairy and poultry and higher gross profit. Finance costs were down by SAR 19 million as benefits of lower interest rate and lower debt levels were partially offset by decreased capitalization of funding cost on capex program.
When compared to the previous quarter, the Saudi dairy producer’s net profit surged 68.1%, buoyed by seasonality of sales.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 3,767.42 | 4,081.84 | 8.3 % |
| Gross Income | 1,466.22 | 1,535.19 | 4.7 % |
| Operating Income | 780.48 | 790.40 | 1.3 % |
| Net Income | 582.53 | 643.93 | 10.5 % |
| Average Shares | 1,000.00 | 1,000.00 | - |
| EPS (Riyals) | 0.58 | 0.64 | 10.5 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 3,592.44 | 4,081.84 | 13.6 % |
| Gross Income | 1,253.19 | 1,535.19 | 22.5 % |
| Operating Income | 513.26 | 790.40 | 54.0 % |
| Net Income | 383.01 | 643.93 | 68.1 % |
| Average Shares | 1,000.00 | 1,000.00 | - |
| EPS (Riyals) | 0.38 | 0.64 | 68.1 % |
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