GACO widens losses to SAR 4.7M in 9M 2024; Q3 at SAR 1.1M

05/11/2024 Argaam Exclusive

Al Gassim Investment Holding Co. (GACO) reported a net loss of SAR 4.7 million for the first nine months of 2024, compared to SAR 1 million in the same period a year earlier.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 7.87 7.54 (4.2 %)
Gross Income 6.76 6.43 (4.9 %)
Operating Income 0.34 (1.43) (521.9 %)
Net Income (1.05) (4.68) (345.5 %)
Average Shares 30.00 30.00 -
EPS (Riyals) (0.03) (0.16) (345.5 %)

The losses were attributed to lower revenues, along with an increase in Zakat provision, general and administrative expenses, and provisions for expected credit losses, as well as a decrease in financing revenues.

 

The company also cited a decline in rental income from Al-Nakheel Grove.

 

This was despite an increase in other income compared to the same period last year.

 


Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 2.66 2.51 (5.6 %)
Gross Income 2.29 2.13 (7.0 %)
Operating Income 0.21 (1.00) (580.7 %)
Net Income (2.45) (1.09) 55.6 %
Average Shares 30.00 30.00 -
EPS (Riyals) (0.08) (0.04) 55.6 %

The company reported a net loss of SAR 1.1 million in Q3 2024, down from SAR 2.45 million in Q3 2023, due to lower other income.

 

Sequentially, GACO reduced its losses from SAR 1.83 million in Q2 2024.

 

Shareholders’ equity, no minority interest, stood at SAR 291.68 million as of Sept. 30, 2024, from SAR 302.11 million a year earlier.

 

Accumulated losses reached SAR 8.3 million by the end of the current period, representing 2.7% of the company's capital.

View More Financial Results

 

View other reports

Share Price

Al Gassim Investment Holding Co.
18.62
0.32 1.75 %

Al Gassim Investment Holding Co. (GACO)

More


Financial Ratios
Current
Market Cap (M Riyal) 558.60
Enterprise Value (EV) (M) 509.35
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) (0.34)
Book Value (BV) ( Riyal) 9.72
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.92
Return on Average Assets (%) (TTM) (2.39 )
Return on Average Equity (%) (TTM) (3.48 )
more

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.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request