Shaker posts SAR 36 mln loss in H1

24/07/2017 Argaam Exclusive

 

Al-Hassan Ghazi Ibrahim Shaker (Shaker) has reported a net loss of around SAR 36 million for the first half of 2017, compared to a net profit of SAR 75 million a year earlier, due to lower sales, higher expenses and cost of sales, lower profit share from associates, and higher provisions.



Financials (M)

Item 6m 2016 6m 2017 Change‬
Revenues 928.83 623.45 (32.9 %)
Gross Income 234.06 127.07 (45.7 %)
Operating Income 60.52 (28.95) (147.8 %)
Net Income 74.99 (35.98) (148.0 %)
Average Shares 55.50 55.50 -
EPS (Riyals) 1.35 (0.65) (148.0 %)

The second quarter saw a net loss of SAR 21.1 million versus a net profit of SAR 47 million in Q2 2016, mainly on the back of a seasonal decline in sales by 37 percent, due to Ramadan and Eid Al Fitr holidays.

 

The company’s loss widened by 42 percent in Q2 compared to the previous quarter. 



Current Quarter Comparison (M)

Compared With The
Item Q2 2016 Q2 2017 Change‬
Revenues 533.76 335.15 (37.2 %)
Gross Income 135.40 68.27 (49.6 %)
Operating Income 37.88 (11.27) (129.8 %)
Net Income 47.00 (21.09) (144.9 %)
Average Shares 55.50 55.50 -
EPS (Riyals) 0.85 (0.38) (144.9 %)

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