Development Works turns to losses of SAR 6 mln in H1 2020

08/09/2020 Argaam Exclusive

View other reports

Development Works Food Co. reported a net loss after Zakat and tax of SAR 6 million for the first half of 2020, from a net profit of SAR 3.7 million in the same period last year.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	70.69	48.68	(31.1 %)
Gross Income	11.43	(2.60)	(122.7 %)
Operating Income	3.37	(6.14)	(282.3 %)
Net Income	3.70	(6.02)	(262.6 %)
Average Shares	3.00	3.00	-
EPS (Riyals)	1.23	(2.01)	(262.6 %)

The losses were attributed to lower sales as a result of the precautionary measures taken to fight the spread of the coronavirus including shutting down the branches, limiting the service to delivery and cutting down the work hours.

The losses were partially offset by lower operating costs and lower general and administrative expenses.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2019	H1 2020	Change‬
Revenues	39.94	22.42	(43.9 %)
Gross Income	6.70	(0.49)	(107.2 %)
Operating Income	2.26	(2.17)	(196.0 %)
Net Income	2.24	(2.09)	(193.2 %)
Average Shares	3.00	3.00	-
EPS (Riyals)	0.75	(0.70)	(193.2 %)

Item	H2 2019	H1 2020	Change‬
Operating Income	3.89	(2.17)	(155.8 %)
Net Income	2.47	(2.09)	(184.8 %)
Average Shares	3.00	3.00	-
EPS (Riyals)	0.82	(0.70)	(184.8 %)

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.

×