Sadr Logistics Co. narrowed 2023 net loss by 41.2% to SAR 4.3 million, from SAR 7.2 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 110.82 | 104.04 | (6.1 %) |
| Gross Income | 15.51 | 18.02 | 16.1 % |
| Operating Income | (4.62) | (3.18) | 31.1 % |
| Net Income | (7.22) | (4.25) | 41.2 % |
| Average Shares | 175.00 | 175.00 | - |
| EPS (Riyals) | (0.04) | (0.02) | 41.2 % |
The cost of sales decreased by 10% compared to the year before, despite allocating an estimated inventory reserve of SAR 3 million. This was driven by the company’s focus on sales of the most profitable and least costly products.
The company also cited increased investment profit and other revenue, in addition to a decline in Zakat provisions.
Q4 2023 loss stood at SAR 4.4 million, compared to a loss of SAR 1.8 million.
On a quarterly basis, net loss widened from SAR 720,000 in Q3 2023.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 41.02 | 25.09 | (38.8 %) |
| Gross Income | 5.37 | 3.27 | (39.1 %) |
| Operating Income | (1.27) | (3.06) | (140.4 %) |
| Net Income | (1.77) | (4.43) | (149.9 %) |
| Average Shares | 175.00 | 175.00 | - |
| EPS (Riyals) | (0.01) | (0.03) | (149.9 %) |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 20.94 | 25.09 | 19.8 % |
| Gross Income | 4.39 | 3.27 | (25.5 %) |
| Operating Income | (0.68) | (3.06) | (351.7 %) |
| Net Income | (0.72) | (4.43) | (519.2 %) |
| Average Shares | 175.00 | 175.00 | - |
| EPS (Riyals) | 0.00 | (0.03) | (519.2 %) |
Total shareholders’ equity, no minority interest, stood at SAR 171.73 million by Dec. 31, 2023, compared to SAR 176.23 million a year earlier.
Accumulated losses stood at SAR 4.79 million as of Dec. 31, 2023, accounting for 0.03% of the company’s capital.
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