Saudi Exports posts SAR 160,000 (-90%) net profit in Q1-2015

16/04/2015 Argaam Exclusive

 

Saudi Industrial Exports Company reported a net profit of SAR 160,000 for first quarter, 90 percent lower compared to the same period in 2014, in which the company posted SAR 1.7 million.

 

The drop was mainly attributed to lower sales of raw materials used in manufacturing fertilizers for the Asian market, lower exports to African markets, as well as lower profit margin from food products sold locally due to intense competition.
 
Compared to the previous quarter, the company reported an increase, attributed to higher profit margin of food products sold in local market and higher other revenue.


Current Quarter Comparison (M)

Compared With The
Item Q1 2014 Q1 2015 Change‬
Revenues 190.78 132.16 (30.7 %)
Gross Income 3.47 1.18 (66.1 %)
Operating Income 2.25 0.02 (98.9 %)
Net Income 1.71 0.16 (90.4 %)
Average Shares 134.37 134.37 -
EPS (Riyals) 0.01 0.00 (90.4 %)

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