Financial Results : Takween narrows net loss to SAR 8.8 mln in H1 2020

Takween narrows net loss to SAR 8.8 mln in H1 2020

22/07/2020 Argaam Exclusive

View other reports

Takween Advanced Industries (Takween) narrowed net loss after Zakat and tax to SAR 8.8 million for the first half of 2020, compared to SAR 25.6 million a year-earlier.



Financials (M)

Item 6m 2019 6m 2020 Change‬
Revenues 622.62 399.18 (35.9 %)
Gross Income 63.72 39.25 (38.4 %)
Operating Income (3.26) (7.04) (115.8 %)
Net Income (25.58) (8.76) 65.8 %
Average Shares 57.86 57.86 -
EPS (Riyals) (0.44) (0.15) 65.8 %

The company attributed the performance to decline in cost of revenue, lower general and administration (G&A) expenses, as well as a decrease in financial charges. On the other hand, sales revenues, selling and distribution costs and other income reported a decline.



Current Quarter Comparison (M)

Compared With The
Item Q2 2019 Q2 2020 Change‬
Revenues 319.15 198.54 (37.8 %)
Gross Income 30.74 20.36 (33.8 %)
Operating Income (2.83) (1.46) 48.4 %
Net Income (13.03) 10.03 177.0 %
Average Shares 57.86 57.86 -
EPS (Riyals) (0.23) 0.17 177.0 %

Takween turned to a net profit after Zakat and tax of SAR 10 million in the second quarter of 2020, compared to a net loss of SAR 13 million in the same period last year, thanks to lower cost of revenue and G&A expenses.

 

The company reported a net loss after Zakat and tax of SAR 18.8 million in the first quarter of 2020.

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.


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
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.