Wafrah for Industry and Development Co. reported a net loss after Zakat and tax of SAR 2.8 million in H1 2021, from a net profit of SAR 650,553 in the prior-year period.
The loss was attributed to lower sales, higher cost of sales and general and administrative expenses, in addition to the impairment of property plant and equipment (which was reclassified from other comprehensive income from Q1 2021).
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 39.19 | 36.72 | (6.3 %) |
| Gross Income | 13.54 | 9.35 | (31.0 %) |
| Operating Income | 0.69 | (3.13) | (556.5 %) |
| Net Income | 0.65 | (2.79) | (528.0 %) |
| Average Shares | 19.70 | 19.70 | - |
| EPS (Riyals) | 0.03 | (0.14) | (528.0 %) |
The company reported a net loss after Zakat and tax of SAR 2.6 million for Q2 2021, from SAR 665,729 in the same quarter last year.
On a sequential basis, the company turned to losses in Q2 2021.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 17.12 | 15.15 | (11.5 %) |
| Gross Income | 5.29 | 3.24 | (38.7 %) |
| Operating Income | (0.78) | (2.77) | (257.4 %) |
| Net Income | (0.67) | (2.59) | (288.6 %) |
| Average Shares | 19.70 | 19.70 | - |
| EPS (Riyals) | (0.03) | (0.13) | (288.6 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 21.57 | 15.15 | (29.8 %) |
| Gross Income | 6.10 | 3.24 | (46.8 %) |
| Operating Income | (0.36) | (2.77) | (675.9 %) |
| Net Income | (0.20) | (2.59) | (1,200.5 %) |
| Average Shares | 19.70 | 19.70 | - |
| EPS (Riyals) | (0.01) | (0.13) | (1,200.5 %) |
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