Al Abdullatif Industrial Investment Co. swung to a net loss after Zakat and tax of SAR 15.6 million in H1 2022, versus a net profit of SAR 640,000 in the prior-year period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 305.01 | 349.88 | 14.7 % |
| Gross Income | 27.29 | 13.42 | (50.8 %) |
| Operating Income | 8.67 | (10.35) | (219.4 %) |
| Net Income | 0.64 | (15.56) | (2523.2 %) |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | 0.01 | (0.19) | (2523.2 %) |
The loss came due to higher cost of sales, following increases in cost of materials, as well as selling, marketing and financing expenses.
The company posted a net loss after Zakat and tax of SAR 3.5 million in Q2 2022, versus a net profit of SAR 5 million in the year-earlier period, on higher cost of sales and materials.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 150.91 | 168.23 | 11.5 % |
| Gross Income | 17.73 | 10.52 | (40.6 %) |
| Operating Income | 8.47 | (1.13) | (113.4 %) |
| Net Income | 5.02 | (3.45) | (168.7 %) |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | 0.06 | (0.04) | (168.7 %) |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 181.65 | 168.23 | (7.4 %) |
| Gross Income | 2.90 | 10.52 | 263.1 % |
| Operating Income | (9.22) | (1.13) | 87.7 % |
| Net Income | (12.11) | (3.45) | 71.5 % |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | (0.15) | (0.04) | 71.5 % |
On a sequential basis, the firm narrowed its loss from SAR 12.11 million.
Shareholders’ equity, after minority interest, stood at SAR 1.079 billion as of June 30, 2022, compared to SAR 1.132 billion a year earlier.
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