Saudi Vitrified Clay Pipes Co. (SVCP) swung to a net loss after Zakat and tax of SAR 3 million in the first nine months of 2021, from a profit of SAR 9.2 million in the year-ago period, due to a decrease in sales.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 96.67 | 67.60 | (30.1 %) |
| Gross Income | 31.39 | 15.97 | (49.1 %) |
| Operating Income | 11.56 | (1.37) | (111.9 %) |
| Net Income | 9.18 | (2.97) | (132.3 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.61 | (0.20) | (132.3 %) |
SVCP also turned to a net loss after Zakat and tax of SAR 1.8 million in Q3 2021, against a profit of SAR 91,000 in Q3 2020.
On a sequential basis, Q3 net loss widened from SAR 1.43 million.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 28.09 | 20.19 | (28.1 %) |
| Gross Income | 8.00 | 4.43 | (44.6 %) |
| Operating Income | 1.83 | (1.52) | (183.4 %) |
| Net Income | 0.91 | (1.76) | (294.6 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.06 | (0.12) | (294.6 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 22.66 | 20.19 | (10.9 %) |
| Gross Income | 4.41 | 4.43 | 0.5 % |
| Operating Income | (0.79) | (1.52) | (93.6 %) |
| Net Income | (1.43) | (1.76) | (22.8 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | (0.10) | (0.12) | (22.8 %) |
Shareholders’ equity, after minority interest, decreased to SAR 276 million as of Sept. 30, 2021, from SAR 294.3 million a year earlier.
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