Naseej trims net loss to SAR 10.3 mln in H1 2021

19/08/2021 Argaam Exclusive

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Naseej International Trading Co. trimmed net loss after Zakat and tax to SAR 10.3 million for H1 2021, from SAR 36.9 million in the prior-year period, driven by higher sales, improved margins, lower expenses and financial charges.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	80.01	136.13	70.1 %
Gross Income	3.55	21.49	506.1 %
Operating Income	(26.31)	(4.03)	84.7 %
Net Income	(36.86)	(10.29)	72.1 %
Average Shares	8.91	8.91	-
EPS (Riyals)	(4.14)	(1.16)	72.1 %

The company narrowed net loss to SAR 5 million in Q2 2021, from SAR 17.3 million in the year-earlier period, backed by higher sales, improved margins from better product mix, higher capacity utilization and lower expenses.

On a sequential basis, net loss shrank by 4.7%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	36.98	65.86	78.1 %
Gross Income	1.95	11.34	482.4 %
Operating Income	(11.93)	(1.65)	86.2 %
Net Income	(17.32)	(5.02)	71.0 %
Average Shares	8.91	8.91	-
EPS (Riyals)	(1.94)	(0.56)	71.0 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	70.26	65.86	(6.3 %)
Gross Income	10.15	11.34	11.7 %
Operating Income	(2.39)	(1.65)	30.9 %
Net Income	(5.27)	(5.02)	4.7 %
Average Shares	8.91	8.91	-
EPS (Riyals)	(0.59)	(0.56)	4.7 %

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