Aseer Trading, Tourism and Manufacturing Co. (Aseer) posted net profit after Zakat and tax of SAR 200,000 for Q1 2020, a drop of 96% year-on-year (YoY) due to a decline in gross profit and operating income.
The company also cited higher general and administrative (G&A) expenses, and increase in income tax and Zakat expenses.
When compared to the previous quarter, the company reported a net profit in the first quarter 2020, driven by an increase in profit from investments, decline in G&A and Zakat expenses, and a fall in financing charges.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 471.87 | 406.21 | (13.9 %) |
| Gross Income | 135.36 | 121.17 | (10.5 %) |
| Operating Income | 29.65 | 12.92 | (56.4 %) |
| Net Income | 5.28 | 0.17 | (96.9 %) |
| Average Shares | 126.39 | 126.39 | - |
| EPS (Riyals) | 0.04 | 0.00 | (96.9 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 513.08 | 406.21 | (20.8 %) |
| Gross Income | 160.86 | 121.17 | (24.7 %) |
| Operating Income | 42.23 | 12.92 | (69.4 %) |
| Net Income | (14.51) | 0.17 | 101.1 % |
| Average Shares | 126.39 | 126.39 | - |
| EPS (Riyals) | (0.11) | 0.00 | 101.1 % |
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