Naseej International Trading Co. narrowed net loss after Zakat and tax to SAR 83.4 million for 2020, from SAR 116.2 million in 2019.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 232.35 | 192.20 | (17.3 %) |
| Gross Income | (14.85) | 22.49 | 251.5 % |
| Operating Income | (73.18) | (79.67) | (8.9 %) |
| Net Income | (116.21) | (83.42) | 28.2 % |
| Average Shares | 5.93 | 8.91 | 50.3 % |
| EPS (Riyals) | (19.61) | (9.36) | 52.2 % |
The company attributed the decrease in loss to optimization of cost of sales across the board along with operational expenses.
Gross profit improved by 251% year-on-year (YoY) despite the impact of the COVID-19 pandemic on the markets.
These actions, in addition to focusing on value creation through extensive product development creating market pull and optimizing operational effectiveness, have contributed positively to the net result.
In Q4 2020, the company also trimmed its net loss after Zakat and tax to SAR 7.8 million from SAR 34.5 million in the same period a year ago.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 49.96 | 63.67 | 27.4 % |
| Gross Income | (8.08) | 17.14 | 312.2 % |
| Operating Income | (18.38) | (16.43) | 10.6 % |
| Net Income | (34.56) | (7.81) | 77.4 % |
| Average Shares | 5.93 | 8.91 | 50.3 % |
| EPS (Riyals) | (5.83) | (0.88) | 85.0 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 48.52 | 63.67 | 31.2 % |
| Gross Income | 1.80 | 17.14 | 852.3 % |
| Operating Income | (36.94) | (16.43) | 55.5 % |
| Net Income | (38.75) | (7.81) | 79.9 % |
| Average Shares | 8.91 | 8.91 | - |
| EPS (Riyals) | (4.35) | (0.88) | 79.9 % |
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