Taiba Investments Co. (Taiba) reported a net profit after Zakat and tax of SAR 171.86 million for the fiscal year of 2019, a 167% year-on-year increase, as compared to SAR 64.35 million a year earlier.
The company said in a bourse statement that the rise is mainly due to lower Zakat expenses and the acquisition of non-controlling stakes in Al Aqeeq Real Estate Development Co. and Arab Resort Areas Co.’s (ARAC).
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 406.28 | 387.53 | (4.6 %) |
| Gross Income | 257.39 | 241.85 | (6.0 %) |
| Operating Income | 202.87 | 178.27 | (12.1 %) |
| Net Income | 64.35 | 171.86 | 167.1 % |
| Average Shares | 150.00 | 157.84 | 5.2 % |
| EPS (Riyals) | 0.43 | 1.09 | 153.8 % |
The company swung to a net profit of SAR 23.5 million in Q4 2019, against a net loss of SAR 69.5 million a year earlier.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 61.87 | 47.18 | (23.7 %) |
| Gross Income | 45.83 | 41.04 | (10.4 %) |
| Operating Income | 30.78 | 25.03 | (18.7 %) |
| Net Income | (69.45) | 23.48 | 133.8 % |
| Average Shares | 150.00 | 157.84 | 5.2 % |
| EPS (Riyals) | (0.46) | 0.15 | 132.1 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 137.53 | 47.18 | (65.7 %) |
| Gross Income | 85.44 | 41.04 | (52.0 %) |
| Operating Income | 72.32 | 25.03 | (65.4 %) |
| Net Income | 67.85 | 23.48 | (65.4 %) |
| Average Shares | 157.84 | 157.84 | - |
| EPS (Riyals) | 0.43 | 0.15 | (65.4 %) |
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