Saudi Advanced Industries Co. (SAIC) reported a net profit after Zakat and tax of SAR 30.9 million in Q1 2022, an increase of 82%, compared to SAR 17.1 million in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 19.69 | 34.44 | 75.0 % |
| Gross Income | 19.69 | 34.44 | 75.0 % |
| Operating Income | 17.54 | 31.00 | 76.7 % |
| Net Income | 17.05 | 30.94 | 81.5 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.28 | 0.52 | 81.5 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 26.57 | 34.44 | 29.6 % |
| Gross Income | 26.57 | 34.44 | 29.6 % |
| Operating Income | 24.03 | 31.00 | 29.0 % |
| Net Income | 25.62 | 30.94 | 20.8 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.43 | 0.52 | 20.8 % |
The company cited higher revenue, an increase in profit share from subsidiaries, and lower Zakat expenses.
On a sequential basis, net profit rose 20.8% from SAR 25.62 million in Q4 2021.
Total shareholders’ equity, excluding minority interest, grew 10.1% year-on-year (YoY) to SAR 967.97 million in Q1 2022.
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