Jazan Energy and Development Co. (JAZADCO) reported a net loss of SAR 40.9 million for Q1 2024, against net earnings of SAR 1.8 million in the year-earlier period.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 27.48 | 14.49 | (47.3 %) |
| Gross Income | 9.82 | (1.50) | (115.3 %) |
| Operating Income | 3.02 | (8.11) | (369.0 %) |
| Net Income | 1.78 | (40.94) | (2396.5 %) |
| Average Shares | 50.00 | 50.00 | - |
| EPS (Riyals) | 0.04 | (0.82) | (2396.5 %) |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 12.04 | 14.49 | 20.3 % |
| Gross Income | (2.17) | (1.50) | 30.8 % |
| Operating Income | (12.43) | (8.11) | 34.7 % |
| Net Income | (16.89) | (40.94) | (142.4 %) |
| Average Shares | 50.00 | 50.00 | - |
| EPS (Riyals) | (0.34) | (0.82) | (142.4 %) |
The losses were due to lower sales resulting from a lack of export sales in Q1 2024 compared to the same period a year ago.
The company also cited shrimp yield losses and the creation of an impairment charge for the current value of shrimp inventory.
On a quarterly basis, JAZADCO widened Q1 2024 losses from SAR 16.89 million in Q4 2023.
Shareholders’ equity, excluding minority interest, stood at SAR 462.13 million as of March 31, 2024, compared to SAR 547.53 million a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}