Tabuk Agricultural Development Co. (TADCO) deepened net losses after Zakat and tax to SAR 28.6 million in the first half of 2022, compared to SAR 25.9 million in the year-earlier period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 53.14 | 46.82 | (11.9 %) |
| Gross Income | (5.03) | 2.71 | 153.8 % |
| Operating Income | (29.44) | (23.66) | 19.6 % |
| Net Income | (25.94) | (28.64) | (10.4 %) |
| Average Shares | 39.18 | 39.18 | - |
| EPS (Riyals) | (0.66) | (0.73) | (10.4 %) |
In Q2 2022, TADCO trimmed net losses after Zakat and tax by 23.2% to SAR 18.5 million, from SAR 24.03 million in the corresponding period of 2021.
Net losses widened from SAR 10.13 million in Q1 2022.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 31.69 | 25.25 | (20.3 %) |
| Gross Income | (9.03) | 0.66 | 107.3 % |
| Operating Income | (23.93) | (14.46) | 39.6 % |
| Net Income | (24.03) | (18.08) | 24.7 % |
| Average Shares | 39.18 | 39.18 | - |
| EPS (Riyals) | (0.61) | (0.46) | 24.7 % |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 21.58 | 25.25 | 17.0 % |
| Gross Income | 2.05 | 0.66 | (68.0 %) |
| Operating Income | (9.20) | (14.46) | (57.2 %) |
| Net Income | (10.56) | (18.08) | (71.3 %) |
| Average Shares | 39.18 | 39.18 | - |
| EPS (Riyals) | (0.27) | (0.46) | (71.3 %) |
Total shareholders’ equity, after minority interest, dropped to SAR 268.795 million as of June 30, 2022, SAR 341.895 million a year earlier.
Accumulated losses reached SAR 125.057 million, or 31.9% of the company’s capital, by the end of the six-month period.
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