Financial Results : SIECO swings to SAR 200,000 profit in Q1 2020

SIECO swings to SAR 200,000 profit in Q1 2020

21/06/2020 Argaam Exclusive

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Saudi Industrial Export Co. (SIECO) reported net profit after Zakat and tax of SAR 200,000 for the first quarter of 2020, versus net losses of SAR 8.5 million in year-earlier period, driven by higher exports of food industries and plastics, in addition to increased revenue and lower general and administrative expenses (G&As).

When compared to the previous quarter, SIECO reported net losses of SAR 2.8 million in Q4 2019.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 18.22 11.34 (37.8 %)
Gross Income 0.28 0.26 (9.9 %)
Operating Income (1.66) (1.26) 24.2 %
Net Income (8.53) 0.22 102.6 %
Average Shares 163.05 163.05 -
EPS (Riyals) (0.05) 0.00 102.6 %

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