Saudi Vitrified Clay’s profits up 238% in Q1-20

Positive interim results are attributed to a growth in the company's sales


Riyadh - Mubasher: Saudi Vitrified Clay Pipes Company (SVCP) on Thursday reported 238.1% higher net profits after Zakat and tax over the first quarter (Q1) of 2020, as shown by the company's interim financial results.

Year-on-year (YoY), the profits soared to SAR 5.41 million during the January-March period of the year, compared with SAR 1.6 million in Q1-19, according to a disclosure to the Saudi Stock Exchange (Tadawul).

Revenues reached SAR 40.55 million over Q1-20, up by 34.5% from SAR 30.1 million.

According to the statement, the positive interim results are attributed to a growth in the company's sales and a decrease in sales costs and operating expenses.

In fiscal year (FY) 2019, net profits after Zakat and tax of Saudi Vitrified Clay amounted to SAR 8.8 million, up 100% from SAR 4.4 million in the previous year.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities