Riyadh – Mubasher: Saudi Arabia Refineries Company (SARCO) achieved a net profit after Zakat and tax worth SAR 221,071 during the first quarter (Q1) of 2021, against net losses of SAR 1.1 million in Q1-20.
Quarter-on-quarter (QoQ), the net income was 96.8% lower than SAR 6.99 million in the fourth quarter (Q4) of 2020, according to the initial financial results.
SARCO’s earnings per share (EPS) stood at SAR 0.01 in Q1-21, against a loss per share of SAR 0.07 in Q1-20.
Sales jumped 576.5% year-on-year (YoY) to SAR 1.19 million in Q1-21 from SAR 175,965. Meanwhile QoQ, revenues decreased by 85.65% from SAR 8.3 million.
Last month, the company’s shareholders approved distributing SAR 11.25 million, representing 7.5% of the capital, as cash dividends for 2020.
