Saudi Advanced Industries Co. (SAIC) reported a net profit after Zakat and tax of SAR 26.1 million for 2020, a 9% drop from SAR 28.6 million a year earlier on lower revenues.
The company also cited a decrease in the share of profit and dividends from its subsidiaries, and higher Zakat estimates.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 44.39 | 36.78 | (17.1 %) |
| Gross Income | 44.39 | 36.78 | (17.1 %) |
| Operating Income | 34.58 | 29.07 | (15.9 %) |
| Net Income | 28.55 | 26.07 | (8.7 %) |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.48 | 0.43 | (8.7 %) |
In Q4 2020, SAIC swung to a net profit of SAR 5.5 million, compared to a net loss of SAR 3.4 year period.-million in prior
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 4.68 | 9.75 | 108.3 % |
| Gross Income | 4.68 | 9.75 | 108.3 % |
| Operating Income | 1.61 | 7.66 | 375.2 % |
| Net Income | (3.45) | 5.53 | 260.2 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (0.06) | 0.09 | 260.2 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 9.59 | 9.75 | 1.6 % |
| Gross Income | 9.59 | 9.75 | 1.6 % |
| Operating Income | 7.78 | 7.66 | (1.7 %) |
| Net Income | 7.50 | 5.53 | (26.3 %) |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.13 | 0.09 | (26.3 %) |
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