Al-Omran turns to SAR 4.2 mln loss in H1 2023; Q2 at SAR 3.6 mln

13/08/2023 Argaam Exclusive

View other reports

Al-Omran Industrial Trading Co. reported a net loss of SAR 4.2 million in H1 2023, compared to SAR 5.9 million in earnings in the prior-year period.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	75.94	70.39	(7.3 %)
Gross Income	18.65	9.74	(47.8 %)
Operating Income	8.54	(1.33)	(115.6 %)
Net Income	5.88	(4.24)	(172.1 %)
Average Shares	10.21	10.21	-
EPS (Riyals)	0.58	(0.42)	(172.1 %)

This was due to a 7% year-on-year (YoY) decrease in sales and an 11% increase in the ratio of cost of sales to sales. General and administrative expenses also jumped YoY by 28%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2022	Q2 2023	Change‬
Revenues	34.46	28.96	(16.0 %)
Gross Income	10.24	3.52	(65.6 %)
Operating Income	5.06	(2.08)	(141.0 %)
Net Income	3.62	(3.61)	(199.8 %)
Average Shares	10.21	10.21	-
EPS (Riyals)	0.35	(0.35)	(199.8 %)

Item	Q1 2023	Q2 2023	Change‬
Revenues	41.43	28.96	(30.1 %)
Gross Income	6.22	3.52	(43.4 %)
Operating Income	0.74	(2.08)	(379.5 %)
Net Income	(0.63)	(3.61)	(470.2 %)
Average Shares	10.21	10.21	-
EPS (Riyals)	(0.06)	(0.35)	(470.2 %)

The company also reported a net loss of SAR 3.6 million in Q2 2023, against a net profit of SAR 3.6 million a year earlier on lower sales.

On a sequential basis, the company widened its Q2 2023 loss significantly from SAR 360,000 as sales slumped by 30% and the cost of sales to sales ratio tumbled by 3% quarter-on-quarter.

Total shareholders’ equity, excluding minority interest, stood at SAR 111 million by the end of H1 2023, compared to SAR 117 million in the year-earlier period.

View More Financial Results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×