Al-Omran profits jump 1131% to SR10mln last year

Profits (after zakat and tax) of Al-Omran Industrial Trading Co. jumped by 1131% to SR 10 million in 2021 from SR 807K in 2020, according to the company’s financial result statement published on Tadawul.

The Saudi listed company reported operational income of SR 16 million last year, with 223% leap from SR 5 million during the previous year.

Gross profit rose 23% to SR37 million in 2021 from SR 30 million the year before, while earning per share (EPS) jumped to SR 1.66 from SR 0.13.

The company attributed higher net profit to the decrease in cost of sales by 10% and the decrease in general and administrative expenses by 44%.