Financial Results : Shams turns to SAR 88,000 profit in Q1 2022

Shams turns to SAR 88,000 profit in Q1 2022

24/05/2022 Argaam Exclusive

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Tourism Enterprise Co. (Shams) swung to a net profit after Zakat and tax of almost SAR 88,000 for the first quarter of 2022, against a loss of SAR 941,000 a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 3.21 2.25 (29.8 %)
Gross Income 0.50 0.23 (53.4 %)
Operating Income (0.81) 0.13 115.9 %
Net Income (0.94) 0.09 109.4 %
Average Shares 677.40 677.40 -
EPS (Halala) (0.14) 0.01 109.4 %

The improved performance was attributed to the retrieval of part of the claims provision.

 

Meanwhile, the company increased net profit in Q1 2022 from SAR 5,263 in the previous quarter.

 

Total shareholders’ equity, after minority interest, reached SAR 55.49 million as of March 31, 2022, compared to SAR 68.69 million a year earlier. 

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