Al Abdullatif Industrial Investment Co. (AlAbdullatif) swung to a net loss after Zakat and tax of SAR 7.7 million for the first quarter of 2020, compared to a net profit of SAR 3.4 million for the same period last year.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 168.85 | 133.35 | (21.0 %) |
| Gross Income | 16.43 | 5.59 | (66.0 %) |
| Operating Income | 7.11 | (2.09) | (129.3 %) |
| Net Income | 3.38 | (7.73) | (328.6 %) |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | 0.04 | (0.10) | (328.6 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 124.91 | 133.35 | 6.8 % |
| Gross Income | (6.36) | 5.59 | 187.9 % |
| Operating Income | (16.69) | (2.09) | 87.5 % |
| Net Income | (21.38) | (7.73) | 63.8 % |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | (0.26) | (0.10) | 63.8 % |
The company attributed the losses to lower sales volumes, higher cost of sales and investment losses in shares at fair value.
When compared to the previous quarter, the company narrowed losses in Q1 due to lower selling expenses, decrease in Zakat provision and financing expenses, in addition to calculating fair value investment losses and actuarial losses at the end of the previous quarter.
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}}