Saudi Industrial Development Co. (SIDC) narrowed net losses after Zakat and tax by 83% to SAR 1.7 million in Q1 2021, SAR 10 million in the year-ago period.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 40.30 | 45.54 | 13.0 % |
| Gross Income | 7.84 | 7.91 | 0.9 % |
| Operating Income | (4.31) | (2.26) | 47.4 % |
| Net Income | (10.02) | (1.74) | 82.6 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.25) | (0.04) | 82.6 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 43.06 | 45.54 | 5.8 % |
| Gross Income | 8.48 | 7.91 | (6.7 %) |
| Operating Income | (7.35) | (2.26) | 69.2 % |
| Net Income | (0.54) | (1.74) | (224.6 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.01) | (0.04) | (224.6 %) |
The losses decreased due to higher sales and lower operating expenses.
When compared to Q4 2020, the company narrowed net losses after Zakat and tax by 37% from SAR 2.7 million, backed by higher sales and lower operating expenses.
Shareholders’ equity, excluding minority interest, grew by 5.84% to SAR 213.6 million by the end of Q1 2021, compared to SAR 201.8 million in the year-ago period.
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