Al-Samaani Factory for Metal Industries Co. posted a net profit after Zakat and tax of SAR 1.2 million for H1 2020, against a net loss of SAR 622,000 a year earlier.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 18.80 | 21.06 | 12.0 % |
| Gross Income | 4.40 | 6.26 | 42.2 % |
| Operating Income | (0.72) | 1.34 | 285.8 % |
| Net Income | (0.62) | 1.22 | 295.8 % |
| Average Shares | 153.96 | 153.96 | - |
| EPS (Riyals) | 0.00 | 0.01 | 295.8 % |
The positive performance was buoyed by a 12% rise year-on-year (YoY) in sales. Operating expenses/total sales decreased to 70% in the first half, from 77% in H1 2019, leading to higher profit margins amid improved operating efficiency.
The results were also boosted by a decline in labor costs, as well as lower selling, general and administrative expenses.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 11.02 | 10.79 | (2.0 %) |
| Gross Income | 2.66 | 3.91 | 47.3 % |
| Operating Income | 0.16 | 1.65 | 904.3 % |
| Net Income | 0.23 | 1.55 | 581.1 % |
| Average Shares | 153.96 | 153.96 | - |
| EPS (Riyals) | 0.00 | 0.01 | 581.1 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 10.26 | 10.79 | 5.2 % |
| Gross Income | 2.35 | 3.91 | 66.7 % |
| Operating Income | (0.31) | 1.65 | 633.0 % |
| Net Income | (0.33) | 1.55 | 575.7 % |
| Average Shares | 153.96 | 153.96 | - |
| EPS (Riyals) | 0.00 | 0.01 | 575.7 % |
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