Saudi Industrial Export Co. (SIECO) narrowed its 2023 net loss to SAR 15.6 million, from SAR 24.3 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 0.27 | 13.23 | 4856.6 % |
| Gross Income | 0.24 | (0.34) | (237.3 %) |
| Operating Income | (15.97) | (24.02) | (50.5 %) |
| Net Income | (21.09) | (15.60) | 26.0 % |
| Average Shares | 19.44 | 19.44 | - |
| EPS (Riyals) | (1.09) | (0.80) | 26.0 % |
The improved results were due to higher sales compared to the previous year on opening new markets and attracting new customers in line with the company's strategic plan. This in addition to the firm's profit from its investments through using part of the cash.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 0.09 | 0.61 | 621.2 % |
| Gross Income | 0.09 | 0.02 | (82.4 %) |
| Operating Income | (4.65) | (5.65) | (21.4 %) |
| Net Income | (2.95) | (4.63) | (56.7 %) |
| Average Shares | 19.44 | 19.44 | - |
| EPS (Riyals) | (0.15) | (0.24) | (56.7 %) |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 5.46 | 0.61 | (88.8 %) |
| Gross Income | 0.10 | 0.02 | (84.2 %) |
| Operating Income | (8.32) | (5.65) | 32.1 % |
| Net Income | (8.64) | (4.63) | 46.5 % |
| Average Shares | 19.44 | 19.44 | - |
| EPS (Riyals) | (0.44) | (0.24) | 46.5 % |
In Q4 2023, net loss increased to SAR 4.62 million, from SAR 2.95 million in the year-earlier period.
Compared to the previous quarter, the three-month losses declined from SAR 8.64 million.
Shareholders' equity, no minority interest, reached SAR 144.45 million by the end of 2023, from SAR 160.02 million a year earlier.
Accumulated losses reached SAR 51.1 million by Dec. 31, 2023, representing 26.29% 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}}