Saudi Public Transport Co. (SAPTCO) narrowed net losses after Zakat and tax to SAR 90.9 million in 2022, from SAR 216.2 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 960.57 | 1,319.47 | 37.4 % |
| Gross Income | 2.35 | 176.08 | 7399.3 % |
| Operating Income | (157.74) | (41.70) | 73.6 % |
| Net Income | (216.19) | (90.87) | 58.0 % |
| Average Shares | 125.00 | 125.00 | - |
| EPS (Riyals) | (1.73) | (0.73) | 58.0 % |
The company attributed the decline in net losses to higher revenue, incremental other income, lower loss recognized on investments in joint venture, as well as decrease in Zakat and tax expenses. The firm also cited recognition of reversal for impairment in assets held for sale in the current year, in addition to lower financing income and recognition of losses in an associate during 2022.
In Q4 2022, net losses after Zakat and tax narrowed by 40.3% to SAR 93.3 million from SAR 66.51 million in the year-ago period.
When compared to the previous quarter, SAPTCO turned to net losses from earnings of SAR 4.03 million.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 280.93 | 356.82 | 27.0 % |
| Gross Income | 37.40 | 26.22 | (29.9 %) |
| Operating Income | (57.66) | (80.48) | (39.6 %) |
| Net Income | (66.51) | (93.34) | (40.3 %) |
| Average Shares | 125.00 | 125.00 | - |
| EPS (Riyals) | (0.53) | (0.75) | (40.3 %) |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 352.98 | 356.82 | 1.1 % |
| Gross Income | 80.68 | 26.22 | (67.5 %) |
| Operating Income | 33.63 | (80.48) | (339.3 %) |
| Net Income | 4.04 | (93.34) | (2413.3 %) |
| Average Shares | 125.00 | 125.00 | - |
| EPS (Riyals) | 0.03 | (0.75) | (2413.3 %) |
Shareholders’ equity, after minority interest, reached SAR 945 million as of Dec. 31, 2022, from SAR 1.049 billion a year earlier.
Accumulated losses stood at SAR 304.9 million in 2022, accounting for 24.39% of the company’s capital.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}