The profit growth was driven by an increase in sales resulting from higher demand and selling prices, in addition to the company’s expansion in new markets and lower financing costs.

Obeikan Glass Co.’s net profit rose to SAR 173.7 million for 2021, from SAR 17.3 million a year earlier.

Financials (M) 

Item 2020 2021 Change‬
Revenues 261.33 463.24 77.3 %
Gross Income 77.68 251.45 223.7 %
Operating Income 27.12 185.77 585.0 %
Net Income 17.30 173.68 904.2 %
Average Shares 24.00 24.00
EPS (Riyals) 0.72 7.24 904.2 %

 

The profit growth was driven by an increase in sales resulting from higher demand and selling prices, in addition to the company’s expansion in new markets and lower financing costs.

 This was partially offset by higher general and administrative expenses, other expenses and Zakat expense.

Current Quarter Comparison (M) 

Item Q4 2020 Q4 2021 Change‬
Revenues
Gross Income
Operating Income
Net Income
Average Shares
EPS (Riyals)

 

Source: https://www.argaam.com/en/financial-reports/company-report/3106/2021/1?preview=true