Financial Results : GACO’s net profit tumbles 92% to SAR 711,000 in Q1 2020

GACO’s net profit tumbles 92% to SAR 711,000 in Q1 2020

22/06/2020 Argaam Exclusive

View other reports

Al Gassim Investment Holding Co. (GACO) reported a net profit after Zakat and tax of SAR 711,000 for Q1 2020, a decrease of 92% year-on-year (YoY), compared to SAR 9.4 million a year earlier.

 

The profit slump was attributed to recording revenue from changes in the fair value of investments during Q1 2019. The company also reported higher administrative expenses and Zakat provision during Q1 2020.

GACO turned to profit from a net loss of SAR 30 million in Q4 2019, as the company incurred impairment losses from investment real estate, and allocated provisions for legal settlements in the previous quarter.

 

Total shareholders’ equity, without minority interest, dropped to SAR 295.89 million in Q1 2020, from SAR 319.22 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 2.92 2.87 (1.7 %)
Gross Income 2.53 2.48 (1.8 %)
Operating Income 9.47 0.87 (90.8 %)
Net Income 9.36 0.71 (92.4 %)
Average Shares 30.00 30.00 -
EPS (Riyals) 0.31 0.02 (92.4 %)

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.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

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

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
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.