TADCO narrows losses to SAR 52.6 mln in 2022; Q4 at SAR 29.3 mln

30/03/2023 Argaam Exclusive

View other reports

Tabuk Agricultural Development Co. (TADCO) reported a net loss of SAR 52.6 million in 2022, from SAR 70.6 million a year ago.

Financials (M)

Item	2021	2022	Change‬
Revenues	116.04	134.37	15.8 %
Gross Income	(5.39)	19.67	465.1 %
Operating Income	(61.49)	(52.08)	15.3 %
Net Income	(70.55)	(51.47)	27.0 %
Average Shares	39.18	39.18	-
EPS (Riyals)	(1.80)	(1.31)	27.0 %

The lower losses were attributed to higher revenues and lower cost of revenues, which led to an increase in gross profit.

Meanwhile, there was an increase in the company’s share of profits from investments in companies using the equity method. This is besides a decrease in the provision for expected credit losses, financing costs and other expenses.

The fourth-quarter losses stood at SAR 29.3 million from SAR 31.3 million in the year-earlier period.

Sequentially, the company turned to losses against a net profit of SAR 5.16 million in Q3 2022.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	27.15	35.15	29.5 %
Gross Income	(6.95)	(0.80)	88.4 %
Operating Income	(26.23)	(30.51)	(16.3 %)
Net Income	(31.33)	(29.33)	6.4 %
Average Shares	39.18	39.18	-
EPS (Riyals)	(0.80)	(0.75)	6.4 %

Item	Q3 2022	Q4 2022	Change‬
Revenues	52.39	35.15	(32.9 %)
Gross Income	17.76	(0.80)	(104.5 %)
Operating Income	2.09	(30.51)	(1560.1 %)
Net Income	5.16	(29.33)	(668.2 %)
Average Shares	39.18	39.18	-
EPS (Riyals)	0.13	(0.75)	(668.2 %)

Total shareholders’ equity, excluding minority interest, amounted to SAR 244.84 million as of Dec. 31, 2022, compared to SAR 297.69 million a year earlier.

View more financial results

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.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

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

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.

×