Financial Results : Al Yamamah Steel cuts net losses to SAR 7.6 mln in Q1 2019/20

Al Yamamah Steel cuts net losses to SAR 7.6 mln in Q1 2019/20

06/02/2020 Argaam Exclusive

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Al Yamamah Steel Industries Co. narrowed net losses after zakat and tax by 74.9% year-on-year (YoY) to SAR 7.6 million for the first quarter ending Dec. 31, 2019, backed by better revenue as well as higher sales volumes and value in the construction and electricity sectors



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 198.79 405.39 103.9 %
Gross Income (15.82) 18.89 219.4 %
Operating Income (29.52) 0.73 102.5 %
Net Income (30.18) (7.58) 74.9 %
Average Shares 50.80 50.80 -
EPS (Riyals) (0.59) (0.15) 74.9 %

When compared to the previous quarter, net losses after zakat and tax also narrowed by 59.4%, thanks to a rise in revenue as well as higher sales volumes and value in the construction sector.

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