Al-Jouf Agricultural incurs SAR 20.8 mln losses in 2019

19/03/2020 Argaam Exclusive

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Al-Jouf Agricultural Development Co. reported net loss after Zakat and tax of SAR 20.8 million for the fiscal year of 2019, versus net profit of SAR 35.76 million in year-earlier period, the company said in a bourse statement.

Financials (M)

Item	2018	2019	Change‬
Revenues	358.93	224.45	(37.5 %)
Gross Income	103.38	40.49	(60.8 %)
Operating Income	49.55	(1.75)	(103.5 %)
Net Income	35.76	(20.80)	(158.2 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	1.19	(0.69)	(158.2 %)

These losses were attributed to a 37.47% drop in sales revenue and higher cost of sales to sales which weighed on gross profit. The company also cited higher expenses on allocated provisions.

Q4 2019 net losses stood at SAR 22.1 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	111.12	63.13	(43.2 %)
Gross Income	31.00	9.37	(69.8 %)
Operating Income	16.56	(5.12)	(130.9 %)
Net Income	11.11	(22.06)	(298.6 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	0.37	(0.74)	(298.6 %)

Item	Q3 2019	Q4 2019	Change‬
Revenues	66.98	63.13	(5.7 %)
Gross Income	5.74	9.37	63.3 %
Operating Income	(5.41)	(5.12)	5.3 %
Net Income	(6.43)	(22.06)	(243.0 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	(0.21)	(0.74)	(243.0 %)

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