Saudi Industrial Export Co. (Sadirat) trimmed net loss to SAR 11 million for the first nine months of 2023, compared to SAR 18.1 million in the year-earlier period, driven by higher sales in addition to the company's profit from its investments through the partial utilization of cash liquidity.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 0.18 | 12.62 | 6872.4 % |
| Gross Income | 0.16 | (0.35) | (321.5 %) |
| Operating Income | (11.32) | (18.38) | (62.4 %) |
| Net Income | (18.14) | (10.98) | 39.5 % |
| Average Shares | 19.44 | 19.44 | - |
| EPS (Riyals) | (0.93) | (0.56) | 39.5 % |
Q3 2023 net loss stood at SAR 8.6 million, widening 62% from SAR 5.33 million in Q3 2022, as the company set aside credit loss provisions, despite an increase in the company's sales and lower general and administrative expenses (G&As) compared to the same quarter of the previous year.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 0.08 | 5.46 | 7184.0 % |
| Gross Income | 0.05 | 0.10 | 82.7 % |
| Operating Income | 1.88 | (8.32) | (541.6 %) |
| Net Income | (5.33) | (8.64) | (62.1 %) |
| Average Shares | 19.44 | 19.44 | - |
| EPS (Riyals) | (0.27) | (0.44) | (62.1 %) |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 2.82 | 5.46 | 93.5 % |
| Gross Income | (0.78) | 0.10 | 112.2 % |
| Operating Income | (5.89) | (8.32) | (41.3 %) |
| Net Income | (0.62) | (8.64) | (1,295.0 %) |
| Average Shares | 19.44 | 19.44 | - |
| EPS (Riyals) | (0.03) | (0.44) | (1,295.0 %) |
On a quarterly basis, net loss deepened from SAR 0.62 million.
Total shareholders’ equity, no minority interest, stood at SAR 149.04 million by Sept. 30, 2023, compared to SAR 160.02 million in the prior-year period.
Accumulated losses at the end of 9M 2023 amounted to SAR 46.47 million, representing 23.9% of the company’s capital.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}