Tourism Enterprise Co. (Shams) trimmed net loss after Zakat and tax by 65.8% year-on-year (YoY) to SAR 4.19 million for the fiscal year 2019, compared to net losses of SAR 12.2 million a year earlier.
The lower losses were driven by an increase and diversification in revenues, in addition to settlement of Zakat provision.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 12.43 | 12.69 | 2.1 % |
| Gross Income | 1.59 | 1.79 | 12.2 % |
| Operating Income | (6.30) | (9.76) | (55.0 %) |
| Net Income | (12.22) | (4.19) | 65.8 % |
| Average Shares | 677.40 | 677.40 | - |
| EPS (Halala) | (1.80) | (0.62) | 65.8 % |
In Q4 2019, the company narrowed net loss after Zakat and tax to SAR 5.4 million, compared to net losses of SAR 8.1 million in the year-earlier period.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 2.45 | 2.45 | 0.0 % |
| Gross Income | (0.37) | (0.98) | (161.4 %) |
| Operating Income | (2.87) | (5.74) | (100.2 %) |
| Net Income | (8.14) | (5.41) | 33.5 % |
| Average Shares | 677.40 | 677.40 | - |
| EPS (Halala) | (1.20) | (0.80) | 33.5 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 4.05 | 2.45 | (39.4 %) |
| Gross Income | 1.25 | (0.98) | (178.1 %) |
| Operating Income | (0.20) | (5.74) | (2,797.5 %) |
| Net Income | (0.27) | (5.41) | (1,882.8 %) |
| Average Shares | 677.40 | 677.40 | - |
| EPS (Halala) | (0.04) | (0.80) | (1,882.8 %) |
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