Al-Jouf Agricultural Development Co. swung to net profit of SAR 21.4 million in 2020, compared to a loss of SAR 20.8 million in the previous year.
The improvement was attributed mainly to year-on-year (YoY) increase in profit margin, which led to an increase in income from operation. The firm also recognized net gain of SAR 25.46 million, resulting from the ownership for the revived land, along with a decrease in impairment of property, equipment and biological assets.
Meanwhile, the company noted an increase in selling & distribution costs, general & administrative costs, and Zakat expenses.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 224.45 | 223.21 | (0.6 %) |
| Gross Income | 40.49 | 64.29 | 58.8 % |
| Operating Income | (1.75) | 14.58 | 932.2 % |
| Net Income | (20.80) | 27.83 | 233.8 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | (0.69) | 0.93 | 233.8 % |
The company narrowed losses in Q4 2020 to SAR 4.7 million, compared to a loss of SAR 22 million in Q4 2019.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 63.13 | 56.06 | (11.2 %) |
| Gross Income | 9.37 | 11.38 | 21.4 % |
| Operating Income | (5.12) | (9.22) | (79.9 %) |
| Net Income | (22.06) | 1.76 | 108.0 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | (0.74) | 0.06 | 108.0 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 49.05 | 56.06 | 14.3 % |
| Gross Income | 4.77 | 11.38 | 138.7 % |
| Operating Income | (8.03) | (9.22) | (14.8 %) |
| Net Income | 7.65 | 1.76 | (77.0 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.25 | 0.06 | (77.0 %) |
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}}