Saudi Automotive Services Co. (SASCO) reported net profit after Zakat and tax of SAR 24.1 million in H1 2021, an increase of 92% from SAR 12.6 million in the prior-year period.
The profit hike was attributed to higher revenue and investment profit, in addition to the inclusion of a provision for expected credit losses in the same period of the previous year.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 938.44 | 1,706.41 | 81.8 % |
| Gross Income | 76.32 | 72.59 | (4.9 %) |
| Operating Income | 56.41 | 49.59 | (12.1 %) |
| Net Income | 12.56 | 24.09 | 91.8 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.21 | 0.40 | 91.8 % |
The company reported a net profit after Zakat and tax of SAR 12.1 million for Q2 2021, an increase of 172%, compared to the same quarter last year.
On a sequential basis, Q2 2021 net profit rose slightly by 0.6%.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 297.37 | 955.87 | 221.4 % |
| Gross Income | 46.00 | 34.94 | (24.0 %) |
| Operating Income | 39.28 | 26.06 | (33.7 %) |
| Net Income | 4.44 | 12.08 | 172.2 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.07 | 0.20 | 172.2 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 750.54 | 955.87 | 27.4 % |
| Gross Income | 37.65 | 34.94 | (7.2 %) |
| Operating Income | 23.53 | 26.06 | 10.8 % |
| Net Income | 12.01 | 12.08 | 0.6 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.20 | 0.20 | 0.6 % |
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