Tourism Enterprise Co. (Shams) widened net loss after Zakat and tax to SAR 8.2 million for 2020, from SAR 4.2 million a year earlier.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 12.69 | 16.06 | 26.5 % |
| Gross Income | 1.79 | 5.43 | 204.1 % |
| Operating Income | (9.76) | (5.56) | 43.0 % |
| Net Income | (4.19) | (8.20) | (95.8 %) |
| Average Shares | 677.40 | 677.40 | - |
| EPS (Halala) | (0.62) | (1.21) | (95.8 %) |
The higher losses were due to the inclusion of general and administrative expenses on allocations for debit balances, in addition to provisions for facing cases based on a primary judgment on the principle of prudence and caution.
The company narrowed net loss after Zakat and tax to SAR 2 million in Q4 2020, from SAR 5.4 million in the year-earlier period.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 2.45 | 5.80 | 136.4 % |
| Gross Income | (0.98) | 3.50 | 459.4 % |
| Operating Income | (5.74) | 0.13 | 102.2 % |
| Net Income | (5.41) | (2.01) | 62.9 % |
| Average Shares | 677.40 | 677.40 | - |
| EPS (Halala) | (0.80) | (0.30) | 62.9 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 6.39 | 5.80 | (9.2 %) |
| Gross Income | 3.23 | 3.50 | 8.3 % |
| Operating Income | (1.27) | 0.13 | 110.0 % |
| Net Income | (1.52) | (2.01) | (31.8 %) |
| Average Shares | 677.40 | 677.40 | - |
| EPS (Halala) | (0.22) | (0.30) | (31.8 %) |
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