Financial Results : GACO widens Q1 2022 loss to SAR 469,000

GACO widens Q1 2022 loss to SAR 469,000

24/05/2022 Argaam Exclusive

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Al Gassim Investment Holding Co. (GACO) reported a net loss after Zakat and tax of SAR 469,000 for the first quarter of 2022, compared to SAR 24,000 in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 2.82 2.66 (5.4 %)
Gross Income 2.36 2.22 (5.9 %)
Operating Income (0.25) (0.72) (186.9 %)
Net Income (0.02) (0.52) (2,060.8 %)
Average Shares 30.00 30.00 -
EPS (Riyals) 0.00 (0.02) (2,060.8 %)

The increased losses were attributed to a rise in provisions during Q1 2022.

 

Meanwhile, the company swung to a loss in Q1 2022 from a net profit of SAR 1.46 million in Q4 2021.

 

Total shareholders’ equity, after minority interest, reached SAR 289.38 million as of March 31, 2022, compared to SAR 288.72 million a year earlier.

 

Accumulated losses amounted to SAR 11.20 million as of March 31, 2022, representing 3.73% of capital.

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