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.
| 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.
| 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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