Tabuk Agricultural Development Co. (TADCO) reported a net loss of SAR 52.6 million in 2022, from SAR 70.6 million a year ago.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 116.04 | 134.37 | 15.8 % |
| Gross Income | (5.39) | 19.67 | 465.1 % |
| Operating Income | (61.49) | (52.08) | 15.3 % |
| Net Income | (70.55) | (51.47) | 27.0 % |
| Average Shares | 39.18 | 39.18 | - |
| EPS (Riyals) | (1.80) | (1.31) | 27.0 % |
The lower losses were attributed to higher revenues and lower cost of revenues, which led to an increase in gross profit.
Meanwhile, there was an increase in the company’s share of profits from investments in companies using the equity method. This is besides a decrease in the provision for expected credit losses, financing costs and other expenses.
The fourth-quarter losses stood at SAR 29.3 million from SAR 31.3 million in the year-earlier period.
Sequentially, the company turned to losses against a net profit of SAR 5.16 million in Q3 2022.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 27.15 | 35.15 | 29.5 % |
| Gross Income | (6.95) | (0.80) | 88.4 % |
| Operating Income | (26.23) | (30.51) | (16.3 %) |
| Net Income | (31.33) | (29.33) | 6.4 % |
| Average Shares | 39.18 | 39.18 | - |
| EPS (Riyals) | (0.80) | (0.75) | 6.4 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 52.39 | 35.15 | (32.9 %) |
| Gross Income | 17.76 | (0.80) | (104.5 %) |
| Operating Income | 2.09 | (30.51) | (1560.1 %) |
| Net Income | 5.16 | (29.33) | (668.2 %) |
| Average Shares | 39.18 | 39.18 | - |
| EPS (Riyals) | 0.13 | (0.75) | (668.2 %) |
Total shareholders’ equity, excluding minority interest, amounted to SAR 244.84 million as of Dec. 31, 2022, compared to SAR 297.69 million a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}