Saudi Vitrified Clay Pipes Co. (SVCP) narrowed its net losses to SAR 7 million in the first nine months of 2023, from SAR 10.2 million in the year-ago period.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 51.39 | 61.10 | 18.9 % |
| Gross Income | 3.95 | 6.93 | 75.4 % |
| Operating Income | (13.26) | (10.02) | 24.4 % |
| Net Income | (10.20) | (6.99) | 31.5 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | (0.68) | (0.47) | 31.5 % |
In Q3 2023, SVCP deepened its net loss to SAR 3.6 million, compared with SAR 1 million a year before on higher cost of sales.
Compared with the previous quarter, the company also widened its Q3 net loss more than seven-fold from SAR 500,000, on lower other revenues.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 20.10 | 21.73 | 8.1 % |
| Gross Income | 5.63 | 2.34 | (58.4 %) |
| Operating Income | (0.39) | (3.26) | (737.7 %) |
| Net Income | (1.00) | (3.64) | (265.9 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | (0.07) | (0.24) | (265.9 %) |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 18.79 | 21.73 | 15.6 % |
| Gross Income | 1.37 | 2.34 | 71.3 % |
| Operating Income | (4.48) | (3.26) | 27.2 % |
| Net Income | (0.50) | (3.64) | (634.1 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | (0.03) | (0.24) | (634.1 %) |
Shareholders’ equity, no minority interest, stood at SAR 261.7 million as of Sept. 30, 2023, down from SAR 266.7 million a year earlier.
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