Financial Results : GACO narrows losses to SAR 4.2 million in 2020

GACO narrows losses to SAR 4.2 million in 2020

31/03/2021 Argaam Exclusive

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Al Gassim Investment Holding Co. (GACO) reported a net loss after Zakat and tax of SAR 4.2 million for 2020 from SAR 14.65 million in 2020.

 

The company attributed the decline in losses to realizing lower impairment losses on real estate investments registered during the current year compared to the previous year.

 

This is despite the decrease in the value of unrealized gains from financial assets at FVTPL during the current year, as well as the increase in the value of Zakat that pertains to the current year and bears the value of Zakat differences related to previous years.



Financials (M)

Item 2019 2020 Change‬
Revenues 12.00 11.66 (2.8 %)
Gross Income 10.29 9.91 (3.7 %)
Operating Income (29.68) (3.86) 87.0 %
Net Income (14.65) (5.13) 65.0 %
Average Shares 30.00 30.00 -
EPS (Riyals) (0.49) (0.17) 65.0 %

The company reported a net loss after Zakat and tax of SAR 5.9 million for Q4 2020 compared to SAR 30.2 million in Q4 2019.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 2.92 2.96 1.1 %
Gross Income 2.54 2.41 (5.1 %)
Operating Income (42.04) (7.70) 81.7 %
Net Income (30.18) (6.09) 79.8 %
Average Shares 30.00 30.00 -
EPS (Riyals) (1.01) (0.20) 79.8 %

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