Tabuk Agricultural Development Co. (TADCO) widened net losses after Zakat and tax by more than two times year-on-year (YoY) to SAR 179.8 million for FY2019, the company said in a bourse statement on Sunday.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 98.98 | 146.52 | 48.0 % |
| Gross Income | 14.09 | (34.60) | (345.6 %) |
| Operating Income | (46.63) | (104.99) | (125.2 %) |
| Net Income | (62.10) | (179.79) | (189.5 %) |
| Average Shares | 33.73 | 33.73 | - |
| EPS (Riyals) | (1.84) | (5.33) | (189.5 %) |
These losses were attributed to inventory impairment, debt provisions, debts owed by an associate, and as asset impairment in sister and affiliated companies.
The company also cited higher cost of finance, increased administrative expenses and lower sales volumes.
The company also widened Q4 2019 net losses by 40.7% YoY to SAR 33.3 milion.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 27.28 | 47.80 | 75.2 % |
| Gross Income | (1.53) | (7.51) | (391.6 %) |
| Operating Income | (20.75) | (37.96) | (83.0 %) |
| Net Income | (55.54) | (37.57) | 32.4 % |
| Average Shares | 33.73 | 33.73 | - |
| EPS (Riyals) | (1.65) | (1.11) | 32.4 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 50.67 | 47.80 | (5.7 %) |
| Gross Income | (1.78) | (7.51) | (322.4 %) |
| Operating Income | (17.21) | (37.96) | (120.6 %) |
| Net Income | (55.67) | (37.57) | 32.5 % |
| Average Shares | 33.73 | 33.73 | - |
| EPS (Riyals) | (1.65) | (1.11) | 32.5 % |
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