Knowledge Economic City (KEC) slid to a deeper loss of SAR 9.1 million in Q1 2023, from SAR 6.7 million in the year-earlier period on higher operating expenses (OpEx).
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 15.73 | 18.05 | 14.8 % |
| Gross Income | 4.88 | 6.57 | 34.5 % |
| Operating Income | (7.65) | (6.93) | 9.4 % |
| Net Income | (6.73) | (9.08) | (35.0 %) |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | (0.02) | (0.03) | (35.0 %) |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 17.11 | 18.05 | 5.5 % |
| Gross Income | 4.93 | 6.57 | 33.2 % |
| Operating Income | (12.32) | (6.93) | 43.7 % |
| Net Income | (8.65) | (9.08) | (5.0 %) |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | (0.03) | (0.03) | (5.0 %) |
Net loss also widened by 5% from SAR 8.6 million in Q4 2022, despite a modest increase in sales on a quarterly and annual basis.
Shareholders’ equity, after minority interest, declined to SAR 3.04 billion as of March 31, 2023, compared to SAR 3.06 billion in the year-earlier period.
Accumulated losses stood at SAR 345.11 million as of Q1 2023, accounting for 10.17% of the company’s capital.
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