Financial Results : Saudi Cable widens net losses to SAR 43.2 mln in Q1 2020

Saudi Cable widens net losses to SAR 43.2 mln in Q1 2020

21/06/2020 Argaam Exclusive

View other reports

Saudi Cable Co. widened net losses after Zakat and tax by 34.6% to SAR 43.2 million for Q1 2020, from SAR 32.1 million a year earlier, due to lower trading volumes amid severe working capital requirements, higher expenses and increased loss share from associates.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 102.46 59.53 (41.9 %)
Gross Income (9.00) (17.31) (92.4 %)
Operating Income (26.69) (37.95) (42.2 %)
Net Income (32.10) (43.20) (34.6 %)
Average Shares 4.18 6.67 59.6 %
EPS (Riyals) (7.68) (6.47) 15.7 %

The company swung to losses from a net profit of SAR 12.3 million in Q4 2019, on lower trading volumes amid severe working capital requirements, higher expenses and increased loss share from associates.

 

The cable producer also did not include one-off favorable adjustments such as zakat settlement waiver and derecognition of unclaimed liabilities.

 

Accumulated losses stood at SAR 50.61 million, or 14.03% of capital by the end of Q1 2020.

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.