Naseej International Trading Co.’s net losses after Zakat and tax increased slightly to SAR 85.5 million in 2021, compared to a loss of SAR 83.4 million in the previous year.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 192.20 | 230.20 | 19.8 % |
| Gross Income | 22.49 | 27.65 | 23.0 % |
| Operating Income | (79.67) | (74.02) | 7.1 % |
| Net Income | (83.42) | (85.52) | (2.5 %) |
| Average Shares | 8.91 | 10.90 | 22.3 % |
| EPS (Riyals) | (9.36) | (7.85) | 16.2 % |
The losses widened due to the substantial increase in raw materials prices, which was partially offset by higher sales and an improvement in the cost of sales, along with lower operating expenses.
The firm reported a net loss after Zakat and tax of SAR 63.6 million in Q4 2021, versus a loss of SAR 7.8 million in Q4 202.
On a sequential basis, Q4 net losses widened from SAR 11.58 million in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 63.67 | 48.79 | (23.4 %) |
| Gross Income | 17.14 | 4.42 | (74.2 %) |
| Operating Income | (16.43) | (61.01) | (271.4 %) |
| Net Income | (7.81) | (63.64) | (715.4 %) |
| Average Shares | 8.91 | 10.90 | 22.3 % |
| EPS (Riyals) | (0.88) | (5.84) | (566.6 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 45.28 | 48.79 | 7.7 % |
| Gross Income | 1.74 | 4.42 | 154.3 % |
| Operating Income | (8.98) | (61.01) | (579.3 %) |
| Net Income | (11.58) | (63.64) | (449.5 %) |
| Average Shares | 8.91 | 10.90 | 22.3 % |
| EPS (Riyals) | (1.30) | (5.84) | (349.2 %) |
Shareholders’ equity, after minority interest, rose 96.6% to SAR 108.973 million in 2021, from SAR 55.433 million a year earlier.
Accumulated losses reached SAR 102.659 million as on Dec. 31, 2021, representing 48.51% of capital.
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