Financial Results : Naseej narrows losses to SAR 5.3 mln in Q1 2021

Naseej narrows losses to SAR 5.3 mln in Q1 2021

09/05/2021 Argaam Exclusive

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Naseej International Trading Co. narrowed net loss after Zakat and tax to SAR 5.3 million in Q1 2021, from a net loss of SAR 19.5 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 43.03 70.26 63.3 %
Gross Income 1.60 10.15 535.0 %
Operating Income (14.38) (2.39) 83.4 %
Net Income (19.54) (5.27) 73.0 %
Average Shares 8.91 8.91 -
EPS (Riyals) (2.19) (0.59) 73.0 %

The company attributed the decrease in net losses to the increase in sales, higher production capacity utilization, and decrease in cost per unit, which led to improved profit margins.

When compared to previous quarter, Naseej narrowed its net loss after Zakat and tax by 32.5%.

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