Financial Results : Kingdom Holding’s net profit down 38% to SAR 420.2 mln in FY2019

Kingdom Holding’s net profit down 38% to SAR 420.2 mln in FY2019

31/03/2020 Argaam Exclusive

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Kingdom Holding Co. reported a net profit after Zakat ad taxes of SAR 420.168 million for the fiscal year 2019, a 38.36% year-on-year (YoY) decline.

 

The decline in net profit was attributed to lower share of results from equity-accounted investees, lower hotel and other operating revenues and a decrease in gains from investments, the company said in a bourse statement. The company also cited the increase in finance charges, general and administrative and marketing expenses as well as in impairment of financial assets as reasons for lower net profit this period.



Financials (M)

Item 2018 2019 Change‬
Revenues 1,943.92 1,403.81 (27.8 %)
Gross Income 601.59 493.48 (18.0 %)
Operating Income 215.98 71.47 (66.9 %)
Net Income 681.63 420.17 (38.4 %)
Average Shares 3,705.88 3,705.88 -
Earnings Per Share before unusual items (Riyals) 0.27 0.14 (48.6 %)
EPS (Riyals) 0.18 0.11 (38.4 %)

Net profit for Q4 2019 fell 61.2% YoY to SAR 18.36 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 547.74 449.64 (17.9 %)
Gross Income 203.76 192.14 (5.7 %)
Operating Income 183.41 75.61 (58.8 %)
Net Income 47.37 18.36 (61.2 %)
Average Shares 3,705.88 3,705.88 -
Earnings Per Share before unusual items (Riyals) 0.04 0.02 (55.0 %)
EPS (Riyals) 0.01 0.00 (61.2 %)

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