Saudi Steel Pipe widens 2020 net losses to SAR 34.5 mln

25/02/2021 Argaam Exclusive

View other reports

Saudi Steel Pipe Co. (SSP) widened its net loss after Zakat and tax to SAR 34.5 million in 2020 from SAR 26.8 million a year earlier.

The company attributed the increase in loss to an increase in administrative expenses to SAR 45.49 million, and a decline in Zakat and income tax benefits to SAR 0.72 million in 2020, from SAR 13.52 million a year earlier.

SSP’s profit share from its associate, Global Pipe Co., decreased to SAR 4.77 million from SAR 8.94 million a year earlier.

Financials (M)

Item	2019	2020	Change‬
Revenues	671.55	474.90	(29.3 %)
Gross Income	13.18	19.14	45.3 %
Operating Income	(34.82)	(32.85)	5.7 %
Net Income	(26.83)	(34.48)	(28.5 %)
Average Shares	51.00	51.00	-
EPS (Riyals)	(0.53)	(0.68)	(28.5 %)

The fourth-quarter net profit after Zakat and tax stood at SAR 714,000.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	156.60	154.73	(1.2 %)
Gross Income	(0.36)	8.11	2360.2 %
Operating Income	(15.50)	(0.01)	100.0 %
Net Income	(2.87)	0.74	125.7 %
Average Shares	51.00	51.00	-
EPS (Riyals)	(0.06)	0.01	125.7 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	150.32	154.73	2.9 %
Gross Income	21.46	8.11	(62.2 %)
Operating Income	12.61	(0.01)	(100.0 %)
Net Income	9.58	0.74	(92.3 %)
Average Shares	51.00	51.00	-
EPS (Riyals)	0.19	0.01	(92.3 %)

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×