Financial Results : TADCO trims losses to SAR 52.1 mln in 2020

TADCO trims losses to SAR 52.1 mln in 2020

30/03/2021 Argaam Exclusive

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Tabuk Agricultural Development Co. (TADCO) narrowed net loss after Zakat and tax to SAR 52.1 million in 2020 compared to SAR 181.3 million in 2019.



Financials (M)

Item 2019 2020 Change‬
Revenues 146.52 158.54 8.2 %
Gross Income (34.60) 14.29 141.3 %
Operating Income (104.99) (37.19) 64.6 %
Net Income (179.79) (53.19) 70.4 %
Average Shares 33.73 33.73 -
EPS (Riyals) (5.33) (1.58) 70.4 %

The decline in losses was driven by higher sales, lower cost of sales, and decreased impairment in the value of crops.

 

TADCO also cited lower selling and distribution expenses, decreased general & administrative expenses (G&As), and lower provisions for the loss decline.

 

In Q4 2020, the company trimmed its net loss after Zakat and tax to SAR 34.2 million from SAR 38.8 million in the same period a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 47.80 39.17 (18.0 %)
Gross Income (7.51) (8.56) (13.9 %)
Operating Income (37.96) (23.59) 37.9 %
Net Income (37.57) (34.99) 6.9 %
Average Shares 33.73 33.73 -
EPS (Riyals) (1.11) (1.04) 6.9 %

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