Tabuk Agricultural Development Co. (TADCO) narrowed net loss after Zakat and tax to SAR 52.1 million in 2020 compared to SAR 181.3 million in 2019.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 146.52 | 158.54 | 8.2 % |
| Gross Income | (34.60) | 14.29 | 141.3 % |
| Operating Income | (104.99) | (37.19) | 64.6 % |
| Net Income | (179.79) | (53.19) | 70.4 % |
| Average Shares | 33.73 | 33.73 | - |
| EPS (Riyals) | (5.33) | (1.58) | 70.4 % |
The decline in losses was driven by higher sales, lower cost of sales, and decreased impairment in the value of crops.
TADCO also cited lower selling and distribution expenses, decreased general & administrative expenses (G&As), and lower provisions for the loss decline.
In Q4 2020, the company trimmed its net loss after Zakat and tax to SAR 34.2 million from SAR 38.8 million in the same period a year earlier.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 47.80 | 39.17 | (18.0 %) |
| Gross Income | (7.51) | (8.56) | (13.9 %) |
| Operating Income | (37.96) | (23.59) | 37.9 % |
| Net Income | (37.57) | (34.99) | 6.9 % |
| Average Shares | 33.73 | 33.73 | - |
| EPS (Riyals) | (1.11) | (1.04) | 6.9 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 47.39 | 39.17 | (17.3 %) |
| Gross Income | 9.31 | (8.56) | (191.9 %) |
| Operating Income | (4.83) | (23.59) | (388.5 %) |
| Net Income | (6.96) | (34.99) | (403.1 %) |
| Average Shares | 33.73 | 33.73 | - |
| EPS (Riyals) | (0.21) | (1.04) | (403.1 %) |
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