Financial Results : Al-Omran swings to SAR 633,000 loss in Q1 2023

Al-Omran swings to SAR 633,000 loss in Q1 2023

22/05/2023 Argaam Exclusive

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Al-Omran Industrial Trading Co. turned to a net loss of SAR 633,000 in Q1 2023, against a net profit of SAR 2.3 million in the year-earlier period, hurt by higher cost of sales as well as general and administrative expenses (G&A).



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 41.48 41.43 (0.1 %)
Gross Income 8.41 6.22 (26.0 %)
Operating Income 3.48 0.74 (78.7 %)
Net Income 2.26 (0.63) (128.0 %)
Average Shares 10.21 10.21 -
EPS (Riyals) 0.22 (0.06) (128.0 %)

Compared to Q4 2022, net losses widened from SAR 560,000 by 13.1%, on an increase in G&A as well as selling and marketing expenses.

 

Shareholders’ equity, after minority interest, decreased to SAR 114.29 million as of March 31, 2023, compared to SAR 117.58 million in the year-earlier period.

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