Logo of Arabian Contracting Services Co. (Al Arabia)
Arabian Contracting Services Co. (Al Arabia), which was listed on Tadawul today, Nov. 15, reported a net profit of SAR 135.7 million (SAR 2.71 a share) for the first nine months of 2021, against a loss of SAR 21.4 million a year earlier.
|
Income Statement – Interim |
|||
|
Items |
September 2020 |
September 2021 |
Variation |
|
Sales |
321.8 |
494.5 |
+54% |
|
Gross Income |
29.4 |
223.0 |
+65% |
|
Gross Profit Margins |
9.2% |
45.1% |
+35.9% |
|
Net Profit |
(21.4) |
135.7 |
-- |
|
No. of Shares |
50.0 |
50.0 |
-- |
|
EPS |
(0.43) |
2.71 |
-- |
The profit growth is driven by a remarkable improvement in profit margins, as revenue increased by 54% year-on-year (YoY) on a collective rise in operating segments' revenue.
The nine-month financials included SAR 11.5 million losses from the exclusion of equipment and machinery.
The following table shows the company's Q3 financials compared to year-earlier period:
|
Income Statement – Quarterly |
|||
|
Items |
Q3 2020 |
Q3 2021 |
Variation |
|
Sales |
107.4 |
188.4 |
+75% |
|
Gross Income |
12.3 |
86.8 |
+605% |
|
Gross Profit Margins |
11.5 % |
46.1 % |
+34.6% |
|
Net Profit |
(6.1) |
57.1 |
-- |
|
No. of Shares |
50.0 |
50.0 |
-- |
|
EPS |
(0.12) |
1.14 |
-- |
The three-month profit growth is boosted by an improvement in profit margins, as revenue increased remarkably YoY on a collective rise in operating segments' revenue.
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