Baazeem Trading Co. reported a net profit after Zakat and tax of SAR 9.8 million for the first quarter of 2021, up 10% from SAR 8.9 million in the year-earlier period.
The company attributed the profit rise to a decline in marketing expenses as well as general and administrative expenses.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 80.87 | 79.84 | (1.3 %) |
| Gross Income | 31.05 | 29.09 | (6.3 %) |
| Operating Income | 10.62 | 11.31 | 6.5 % |
| Net Income | 8.91 | 9.78 | 9.8 % |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.88 | 0.97 | 9.8 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 66.86 | 79.84 | 19.4 % |
| Gross Income | 26.89 | 29.09 | 8.2 % |
| Operating Income | 7.10 | 11.31 | 59.3 % |
| Net Income | 5.88 | 9.78 | 66.4 % |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.58 | 0.97 | 66.4 % |
When compared to Q4 2020, net profit after Zakat and tax surged 66.3% from SAR 5.9 million, driven by revenue growth due to Ramadan season, along with lower marketing, general and administrative expenses.
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