Knowledge Economic City turned to a net loss after Zakat and tax of SAR 7.1 million for H1 2020, versus a net profit of SAR 25 million a year earlier.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 108.02 | 82.46 | (23.7 %) |
| Gross Income | 37.29 | 16.97 | (54.5 %) |
| Operating Income | 13.57 | (2.82) | (120.8 %) |
| Net Income | 25.05 | (7.08) | (128.3 %) |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | 0.07 | (0.02) | (128.3 %) |
The developer cited lower revenue and disposal of subsidiary in the previous period.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 27.75 | 58.99 | 112.6 % |
| Gross Income | 6.34 | 12.89 | 103.3 % |
| Operating Income | (6.19) | 3.53 | 157.0 % |
| Net Income | 5.48 | (0.32) | (105.9 %) |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | 0.02 | 0.00 | (105.9 %) |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 23.19 | 58.99 | 154.4 % |
| Gross Income | 5.06 | 12.89 | 154.6 % |
| Operating Income | (5.37) | 3.53 | 165.7 % |
| Net Income | (6.76) | (0.32) | 95.2 % |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | (0.02) | 0.00 | 95.2 % |
In Q2 2020, the company swung to a net loss after Zakat and tax of SAR 324,000 versus net profit of SAR 5.4 million in the same period last year. The decrease in quarterly profit was driven by the disposal of subsidiary in the previous quarter.
When compared to the previous quarter, net loss decreased due to higher revenue.
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