National Metal Manufacturing and Casting Co. (Maadaniyah) widened net loss after Zakat and tax to SAR 15.2 million for the first six months of 2020, compared to SAR 4.3 million in year-earlier period.
The losses were attributed to lower sales, higher selling and distribution expenses, higher shipping cost to the USA, increase in provision for doubtful accounts and lower other income.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 146.52 | 117.37 | (19.9 %) |
| Gross Income | 15.26 | 5.70 | (62.6 %) |
| Operating Income | (0.55) | (11.71) | (2,014.1 %) |
| Net Income | (4.29) | (15.17) | (253.6 %) |
| Average Shares | 29.95 | 29.95 | - |
| EPS (Riyals) | (0.14) | (0.51) | (253.6 %) |
Net losses for Q2 2020 widened to SAR 7.7 million versus SAR 4.1 million in year earlier period, on lower sales, higher sales and distribution expenses, provision for doubtful accounts and lower other income.
On a sequential basis, Q2 2020 net losses widened from SAR 7.5 million in Q1 2020.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 65.82 | 37.82 | (42.5 %) |
| Gross Income | 5.97 | 2.08 | (65.2 %) |
| Operating Income | (2.40) | (5.98) | (149.7 %) |
| Net Income | (4.10) | (7.71) | (88.1 %) |
| Average Shares | 29.95 | 29.95 | - |
| EPS (Riyals) | (0.14) | (0.26) | (88.1 %) |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 79.55 | 37.82 | (52.5 %) |
| Gross Income | 3.63 | 2.08 | (42.7 %) |
| Operating Income | (5.73) | (5.98) | (4.4 %) |
| Net Income | (7.46) | (7.71) | (3.3 %) |
| Average Shares | 29.95 | 29.95 | - |
| EPS (Riyals) | (0.25) | (0.26) | (3.3 %) |
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