SIECO widens FY17 net losses to SAR 111 mln

20/03/2018 Argaam Exclusive

Saudi Industrial Export Co. (SIECO) widened net losses to SAR 111 million for the fiscal year 2017, compared to net losses of SAR 14.2 million a year earlier, due to liquidation of the company’s business portfolio, allocation of debt provisions and asset impairments.

 

Meanwhile, higher general and administrative expenses after a 90 percent capital cut also weighed on the annual results despite a rise in other income.



Financials (M)

Item 2016 2017 Change‬
Revenues 0.62 19.22 2985.7 %
Gross Income 0.32 (2.52) (895.6 %)
Operating Income (6.78) (11.83) (74.6 %)
Net Income (107.43) (110.99) (3.3 %)
Average Shares 134.37 134.37 -
EPS (Riyals) (0.80) (0.83) (3.3 %)


Current Quarter Comparison (M)

Compared With The
Item Q4 2016 Q4 2017 Change‬
Revenues (1.23) 7.04 673.2 %
Gross Income (0.83) (3.05) (267.3 %)
Operating Income (3.51) (5.60) (59.4 %)
Net Income (3.39) (85.33) (2,418.2 %)
Average Shares 134.37 134.37 -
EPS (Riyals) (0.03) (0.64) (2,418.2 %)

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