Saudi Vitrified Clay Pipes Co. (SVCP) narrowed H1 2023 net loss to SAR 3.4 million, from SAR 9.2 million a year ago, driven by higher sales and lower cost of sales.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 31.29 | 39.37 | 25.8 % |
| Gross Income | (1.69) | 4.59 | 372.1 % |
| Operating Income | (12.87) | (6.76) | 47.5 % |
| Net Income | (9.21) | (3.35) | 63.6 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | (0.61) | (0.22) | 63.6 % |
The net loss for Q2 2023 shrank to SAR 500,000 from SAR 10.48 million in the prior year.
On a quarterly basis, the company trimmed losses from SAR 2.86 million in Q1 2023 on the rise in other revenues.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 12.76 | 18.79 | 47.3 % |
| Gross Income | (4.57) | 1.37 | 129.9 % |
| Operating Income | (10.18) | (4.48) | 56.0 % |
| Net Income | (10.48) | (0.50) | 95.3 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | (0.70) | (0.03) | 95.3 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 20.58 | 18.79 | (8.7 %) |
| Gross Income | 3.22 | 1.37 | (57.5 %) |
| Operating Income | (2.28) | (4.48) | (96.6 %) |
| Net Income | (2.86) | (0.50) | 82.6 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | (0.19) | (0.03) | 82.6 % |
Shareholders’ equity, no minority interest, reached SAR 265.35 million as of June 30, 2023, compared to SAR 267.73 million in the year-earlier period.
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