Aseer Trading, Tourism and Manufacturing Co. (Aseer) posted a net loss after Zakat and tax of SAR 3.1 million for the first six months of 2020, as against a net profit of SAR 23.9 million in the same period a year earlier.
The loss is attributed to lower sales, higher general & administration (G&A) expenses and higher operation expenses, in addition to lower other income and higher income tax and Zakat expenses.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 886.43 | 795.74 | (10.2 %) |
| Gross Income | 248.51 | 236.99 | (4.6 %) |
| Operating Income | 37.24 | 20.64 | (44.6 %) |
| Net Income | 23.89 | (3.07) | (112.8 %) |
| Average Shares | 126.39 | 126.39 | - |
| EPS (Riyals) | 0.19 | (0.02) | (112.8 %) |
In Q2, 2020, Aseer sustained net losses of SAR 3.2 million, compared to net profit of SAR 18.6 million in year-earlier period, due to higher sales and distribution expenses, higher G&A and operation expenses, in addition to lower other income and higher income tax and Zakat expenses.
On a sequential basis, Aseer turned to losses in Q2, 2020.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 414.56 | 389.53 | (6.0 %) |
| Gross Income | 113.15 | 115.82 | 2.4 % |
| Operating Income | 7.60 | 7.72 | 1.6 % |
| Net Income | 18.61 | (3.24) | (117.4 %) |
| Average Shares | 126.39 | 126.39 | - |
| EPS (Riyals) | 0.15 | (0.03) | (117.4 %) |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 406.21 | 389.53 | (4.1 %) |
| Gross Income | 121.17 | 115.82 | (4.4 %) |
| Operating Income | 12.92 | 7.72 | (40.3 %) |
| Net Income | 0.17 | (3.24) | (2048.8 %) |
| Average Shares | 126.39 | 126.39 | - |
| EPS (Riyals) | 0.00 | (0.03) | (2048.8 %) |
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