JAZADCO trims net losses to SAR 8.7 mln in FY19

19/03/2020 Argaam Exclusive

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Jazan Energy and Development Co. narrowed net losses after Zakat and tax to SAR 8.7 million for the fiscal year 2019, compared to net losses of SAR 10.1 million a year earlier, thanks to higher sales, low depreciation costs of buildings and construction works.

Sales revenue rose to SAR 71.9 million in 2019, from SAR 68.5 million a year earlier.

Financials (M)

Item	2018	2019	Change‬
Revenues	68.52	71.88	4.9 %
Gross Income	9.29	15.74	69.5 %
Operating Income	(7.49)	(10.54)	(40.8 %)
Net Income	(10.11)	(12.90)	(27.6 %)
Average Shares	50.00	50.00	-
EPS (Riyals)	(0.20)	(0.26)	(27.6 %)

In Q4 2019, JAZADCO incurred net losses of SAR 380,000, compared to SAR 13.9 million in year-earlier period.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	27.16	22.84	(15.9 %)
Gross Income	(5.50)	7.19	230.7 %
Operating Income	(12.25)	(3.45)	71.8 %
Net Income	(13.91)	(4.58)	67.1 %
Average Shares	50.00	50.00	-
EPS (Riyals)	(0.28)	(0.09)	67.1 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	19.10	22.84	19.6 %
Gross Income	3.82	7.19	88.3 %
Operating Income	(0.46)	(3.45)	(648.8 %)
Net Income	(1.32)	(4.58)	(248.5 %)
Average Shares	50.00	50.00	-
EPS (Riyals)	(0.03)	(0.09)	(248.5 %)

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