Financial Results : Al-Samaani posts SAR 1.9 mln loss in FY19

Al-Samaani posts SAR 1.9 mln loss in FY19

29/03/2020 Argaam Exclusive

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Al-Samaani Factory for Metal Industries Co. posted a net loss after Zakat and tax of SAR 1.9 million for the fiscal year 2019, against a net profit of SAR 459,000 a year earlier.

 

The losses were attributed to lower selling prices amid fierce competition. Moreover, selling, general and administrative expenses also increased despite a decline in loan and Zakat provisions, finance costs as well as other income.



Financials (M)

Item 2018 2019 Change‬
Revenues 39.53 42.04 6.3 %
Gross Income 10.78 9.81 (9.0 %)
Operating Income 1.28 (1.67) (230.5 %)
Net Income 0.46 (1.90) (513.9 %)
Average Shares 153.96 153.96 -
Earnings Per Share before unusual items (Riyals) 0.01 (0.01) (248.6 %)
EPS (Riyal) 0.00 (0.01) (513.9 %)

In Q4 2019, the company also trimmed net losses to SAR 1.5 million, from SAR 2.8 million in year-earlier period.



Current Half Annual Comparison (M)

Compared With The
Item H2 2018 H2 2019 Change‬
Revenues 7.65 11.19 46.2 %
Gross Income 0.41 2.28 453.0 %
Operating Income (2.19) (1.33) 39.3 %
Net Income (2.75) (1.54) 44.2 %
Average Shares 153.96 153.96 -
Earnings Per Share before unusual items (Riyal) (0.01) (0.01) 20.5 %
EPS (Riyal) (0.02) (0.01) 44.2 %

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