Financial Results : SARCO narrows net losses to SAR 1.1 mln in Q1 2020

SARCO narrows net losses to SAR 1.1 mln in Q1 2020

18/05/2020 Argaam Exclusive

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Saudi Arabia Refineries Co. (SARCO) narrowed net losses by 13% year-on-year (YoY) to SAR 1.1 million for Q1 2020, compared to SAR 1.3 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Operating Income (0.63) (0.89) (41.1 %)
Net Income (1.27) (1.10) 13.1 %
Average Shares 15.00 15.00 -
Earnings Per Share before unusual items (Riyal) (0.08) (0.07) 13.1 %
EPS (Riyal) (0.08) (0.07) 13.1 %

The company attributed it to the dividends due for the second half of 2019 from Southern Region Cement Co. worth SAR 271,499.

 

When compared to previous quarter, SARCO turned to losses on the lack of dividends from the Saudi Industrial Investment Group Co. worth SAR 11.39 million.

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