Morabaha Marina Financing Co. posted a net profit of SAR 9 million (SAR 0.32 per share) for the first quarter of 2021, up 43% compared to SAR 6.3 million in year-earlier period.

 

Income Statement (SAR mln)

Item

Q1 2020

Q1 2021

Variation %

Special Commission Income 

25.9

29.4

+13%

Net Commission Income

16.5

24.1

+46%

Other Revenue

3.8 

4.1

+6%

Net Profit

6.3

9.0

 +43%

Average Number of Shares

28.05

28.05

--

EPS (SAR)

0.22

0.32

+43%
 

The profit growth is attributed to a 46% increase in net commission income, driven by lower special commission charges.

 

Income Statement (SAR mln)

Item

Special Commission Income 

Net Commission Income

Net Profit

EPS (SAR)

2020

Q1

25.9

16.5

6.2

0.22

Q2

20.8

19.0

5.8

0.21

Q3

22.4

21.8

11.2

0.40

Q4

36.5

23.5

10.7

0.38

2021

Q1

29.4

24.2

9.0

0.32

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