GACO turns to SAR 317,300 loss in H1 2021

18/08/2021 Argaam Exclusive

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Al Gassim Investment Holding Co. (GACO) turned to a net loss after Zakat and tax of SAR 317,300 for the first half of 2021 from a net profit of SAR 1.2 million in the year-earlier period.

The company attributed the earnings to higher administrative expenses, and the value of provisions made.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	5.75	5.63	(1.9 %)
Gross Income	4.94	4.74	(4.0 %)
Operating Income	2.27	(0.44)	(119.5 %)
Net Income	1.25	(0.32)	(125.4 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	0.04	(0.01)	(125.4 %)

In Q2 2021, the company turned to a net loss after Zakat and tax of SAR 292,892 from a net profit of SAR 775,845 in the same period a year earlier, on higher administrative expenses.

On a quarterly basis, GACO widened its losses in Q2 2021 from SAR 24,445.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	2.87	2.82	(1.9 %)
Gross Income	2.46	2.38	(3.2 %)
Operating Income	1.40	(0.19)	(113.6 %)
Net Income	0.54	(0.29)	(154.8 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	0.02	(0.01)	(154.8 %)

Item	Q1 2021	Q2 2021	Change‬
Revenues	2.82	2.82	0.1 %
Gross Income	2.36	2.38	0.7 %
Operating Income	(0.25)	(0.19)	24.3 %
Net Income	(0.02)	(0.29)	(1,120.8 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	0.00	(0.01)	(1,120.8 %)

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