Al Gassim Investment Holding Co. (GACO) reported a net loss after Zakat and tax of SAR 469,000 for the first quarter of 2022, compared to SAR 24,000 in the same period last year.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 2.82 | 2.66 | (5.4 %) |
| Gross Income | 2.36 | 2.22 | (5.9 %) |
| Operating Income | (0.25) | (0.72) | (186.9 %) |
| Net Income | (0.02) | (0.52) | (2,060.8 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.00 | (0.02) | (2,060.8 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 2.82 | 2.66 | (5.5 %) |
| Gross Income | 2.36 | 2.22 | (5.8 %) |
| Operating Income | 7.72 | (0.72) | (109.3 %) |
| Net Income | 1.46 | (0.52) | (135.5 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.05 | (0.02) | (135.5 %) |
The increased losses were attributed to a rise in provisions during Q1 2022.
Meanwhile, the company swung to a loss in Q1 2022 from a net profit of SAR 1.46 million in Q4 2021.
Total shareholders’ equity, after minority interest, reached SAR 289.38 million as of March 31, 2022, compared to SAR 288.72 million a year earlier.
Accumulated losses amounted to SAR 11.20 million as of March 31, 2022, representing 3.73% of capital.
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