Sadr Logistics Co. reported a net loss after Zakat and tax of SAR 1.8 million in Q1 2022, against a net profit of SAR 601,000 a year earlier.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 14.88 | 19.77 | 32.9 % |
| Gross Income | 4.41 | 3.31 | (25.1 %) |
| Operating Income | 0.77 | (1.35) | (275.9 %) |
| Net Income | 0.60 | (1.83) | (404.3 %) |
| Average Shares | 153.96 | 175.00 | 13.7 % |
| EPS (Riyals) | 0.00 | (0.01) | (367.7 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 21.24 | 19.77 | (6.9 %) |
| Gross Income | 3.66 | 3.31 | (9.5 %) |
| Operating Income | 0.64 | (1.35) | (312.4 %) |
| Net Income | 0.08 | (1.83) | (2330.0 %) |
| Average Shares | 175.00 | 175.00 | - |
| EPS (Riyals) | 0.00 | (0.01) | (2330.0 %) |
The losses were attributed to an increase in the cost of sales, selling and marketing expenses,general and administrative expenses as well as Zakat provision.
This was despite an increase in investments and other income.
When compared to the previous quarter, the company turned to a loss from a profit of SAR 81,000.
Total shareholders’ equity, after minority interest, stood at SAR 181.041 million at the end of Q1 2022, compared to SAR 34.948 million a year before.
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