Aseer Trading, Tourism and Manufacturing Co. narrowed net loss after Zakat and tax to SAR 2.2 million in H1 2021, from SAR 3.1 million in the prior-year period.
The company attributed the decline in losses to higher sales, decrease in selling and distribution expenses, lower general and administration expenses, recording other operating income verses other operating expenses in same period last year.
In addition, Aseer reported foreign currency exchange gain compared to losses in same period last year, increase in other income and decrease in finance expenses.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 795.74 | 829.60 | 4.3 % |
| Gross Income | 236.99 | 240.08 | 1.3 % |
| Operating Income | 20.64 | 27.35 | 32.5 % |
| Net Income | (3.07) | (2.17) | 29.2 % |
| Average Shares | 126.39 | 126.39 | - |
| EPS (Riyals) | (0.02) | (0.02) | 29.2 % |
The company reported a net loss after Zakat and tax of SAR 800,000 for Q2 2021, compared to SAR 3.2 million in the same quarter last year.
On a sequential basis, the company narrowed its losses in Q2 2021.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 389.53 | 403.40 | 3.6 % |
| Gross Income | 115.82 | 114.47 | (1.2 %) |
| Operating Income | 7.72 | 12.43 | 61.0 % |
| Net Income | (3.24) | (0.79) | 75.7 % |
| Average Shares | 126.39 | 126.39 | - |
| EPS (Riyals) | (0.03) | (0.01) | 75.7 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 426.21 | 403.40 | (5.4 %) |
| Gross Income | 125.61 | 114.47 | (8.9 %) |
| Operating Income | 14.92 | 12.43 | (16.7 %) |
| Net Income | (1.39) | (0.79) | 43.5 % |
| Average Shares | 126.39 | 126.39 | - |
| EPS (Riyals) | (0.01) | (0.01) | 43.5 % |
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