Tourism Enterprise Co. (Shams) reported a net profit after zakat and tax of SAR 1.5 million for H1 2019, against a net loss of SAR 3.3 million a year earlier.
The current period implied settlement of zakat claims for the period from 1996 to 2010, along with lower service costs.
|Gross Income||1.23||1.51||23.1 %|
|Operating Income||(2.87)||(3.82)||(33.3 %)|
|Net Income||(3.30)||1.50||145.5 %|
|EPS (Riyal)||(0.32)||0.15||145.5 %|
The company swung to a net profit after zakat and tax of SAR 243,924 in Q2 2019, compared to a net loss of SAR 1.3 million a year earlier, thanks to higher revenue from Al-Nakheel beach.
Shams net profit plunged 80.6 percent when compared to Q1 2019 as the current quarter implied settlement of zakat claims for the period from 1996 to 2010, and lower service costs.
|P/E Before Unusual Items (TTM)||NEG|
|Market Cap. (M)||242.38|
|Return on Average Assets||(2.29 %)|
|Return on Average Equity||(2.54 %)|