Saudi Fisheries trims H1 2021 losses to SAR 19.4 mln

19/08/2021 Argaam Exclusive

View other reports

Saudi Fisheries Co. narrowed net losses to SAR 19.4 million in H1 2021, compared to SAR 19.9 million in the year-ago period.

The company attributed the improved results to a 54% rise in gross profit, higher sales and lower costs, coupled with a decline in finance charges on repayment of bank loan in July 2020.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	20.46	21.81	6.6 %
Gross Income	7.67	2.36	(69.2 %)
Operating Income	(17.23)	(19.02)	(10.4 %)
Net Income	(19.94)	(19.38)	2.8 %
Average Shares	40.00	40.00	-
EPS (Riyals)	(0.50)	(0.48)	2.8 %

The company’s widened net losses to SAR 9.63 million in Q2 2021, from SAR 9.93 million in the year-earlier period due to higher selling and marketing expenses, bad debt provision, as well as marketing and Zakat expenses.

On a sequential basis, Q2 net loss widened marginally.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	10.22	9.80	(4.1 %)
Gross Income	4.26	1.96	(54.0 %)
Operating Income	(7.50)	(9.01)	(20.2 %)
Net Income	(8.93)	(9.63)	(7.9 %)
Average Shares	40.00	40.00	-
EPS (Riyals)	(0.22)	(0.24)	(7.9 %)

Item	Q1 2021	Q2 2021	Change‬
Revenues	12.01	9.80	(18.4 %)
Gross Income	0.41	1.96	383.7 %
Operating Income	(10.01)	(9.01)	10.0 %
Net Income	(9.75)	(9.63)	1.2 %
Average Shares	40.00	40.00	-
EPS (Riyals)	(0.24)	(0.24)	1.2 %

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.

×