Al Kathiri Holding Co. swung to a net loss after Zakat and tax of SAR 3.9 million in the first nine months of 2022, from a profit of SAR 11.8 million in the year-earlier period, due to lower revenues in addition to higher general and administrative expenses.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 116.88 | 78.56 | (32.8 %) |
| Gross Income | 33.07 | 4.46 | (86.5 %) |
| Operating Income | 13.30 | (2.23) | (116.7 %) |
| Net Income | 11.74 | (3.94) | (133.6 %) |
| Average Shares | 226.04 | 226.04 | - |
| EPS (Halala) | 5.19 | (1.74) | (133.6 %) |
The company also noted an increase in selling and marketing costs.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 41.48 | 32.56 | (21.5 %) |
| Gross Income | 11.37 | 4.02 | (64.6 %) |
| Operating Income | 5.44 | 2.20 | (59.6 %) |
| Net Income | 4.49 | 1.58 | (64.7 %) |
| Average Shares | 226.04 | 226.04 | - |
| EPS (Halala) | 1.99 | 0.70 | (64.7 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 20.73 | 32.56 | 57.0 % |
| Gross Income | (0.59) | 4.02 | 778.2 % |
| Operating Income | (2.83) | 2.20 | 177.8 % |
| Net Income | (3.46) | 1.58 | 145.8 % |
| Average Shares | 226.04 | 226.04 | - |
| EPS (Halala) | (1.53) | 0.70 | 145.8 % |
In Q3 2022, net profit after Zakat and tax plunged 64% year-on-year (YoY) to SAR 1.6 million, while it turned profitable from a loss of 3.47 million in Q2 2022.
Shareholders’ equity, after minority interest, decreased to SAR 129.8 million as of Sept. 30, 2022, from SAR 137.2 million a year earlier.
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