Al Gassim Investment Holding Co. (GACO) reported a net loss of SAR 1.1 million for the first nine months of 2023, up from SAR 895,000 a year earlier.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 8.20 | 7.87 | (4.1 %) |
| Gross Income | 6.90 | 6.76 | (2.1 %) |
| Operating Income | (0.63) | 0.64 | 202.9 % |
| Net Income | (0.90) | (1.05) | (17.3 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | (0.03) | (0.03) | (17.3 %) |
The losses deepened on higher Zakat provision, despite the decrease in general and administrative expenses and provision for expected credit losses, as well as the increase in other revenues.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 2.87 | 2.66 | (7.3 %) |
| Gross Income | 2.45 | 2.29 | (6.3 %) |
| Operating Income | 0.24 | 0.28 | 16.4 % |
| Net Income | (0.01) | (2.45) | (18,035.6 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.00 | (0.08) | (18,035.6 %) |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 2.60 | 2.66 | 2.3 % |
| Gross Income | 2.23 | 2.29 | 2.7 % |
| Operating Income | 0.44 | 0.28 | (37.5 %) |
| Net Income | 0.89 | (2.45) | (375.2 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.03 | (0.08) | (375.2 %) |
The company expanded its losses in Q3 2023 to SAR 2.5 million from SAR 10,000 in Q3 2022, mainly due to the increase in the value of the zakat provision made during the period.
Sequentially, GACO swung to losses against a profit of SAR 890,000 in Q2 2023.
Total shareholders’ equity, no minority interest, fell to SAR 302.11 million as of Sept. 30, 2023, from SAR 295 million a year earlier.
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}}