Al-Samaani posts SAR 1.9 mln loss in FY19

29/03/2020 Argaam Exclusive

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Al-Samaani Factory for Metal Industries Co. posted a net loss after Zakat and tax of SAR 1.9 million for the fiscal year 2019, against a net profit of SAR 459,000 a year earlier.

The losses were attributed to lower selling prices amid fierce competition. Moreover, selling, general and administrative expenses also increased despite a decline in loan and Zakat provisions, finance costs as well as other income.

Financials (M)

Item	2018	2019	Change‬
Revenues	39.53	42.04	6.3 %
Gross Income	10.78	9.81	(9.0 %)
Operating Income	1.28	(1.67)	(230.5 %)
Net Income	0.46	(1.90)	(513.9 %)
Average Shares	153.96	153.96	-
EPS (Riyals)	0.00	(0.01)	(513.9 %)

In Q4 2019, the company also trimmed net losses to SAR 1.5 million, from SAR 2.8 million in year-earlier period.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2018	H2 2019	Change‬
Revenues	7.65	11.19	46.2 %
Gross Income	0.41	2.28	453.0 %
Operating Income	(2.19)	(1.33)	39.3 %
Net Income	(2.75)	(1.54)	44.2 %
Average Shares	153.96	153.96	-
EPS (Riyals)	(0.02)	(0.01)	44.2 %

Item	H1 2019	H2 2019	Change‬
Revenues	11.02	11.19	1.5 %
Gross Income	2.66	2.28	(14.0 %)
Operating Income	0.16	(1.33)	(909.8 %)
Net Income	0.23	(1.54)	(776.7 %)
Average Shares	153.96	153.96	-
EPS (Riyals)	0.00	(0.01)	(776.7 %)

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

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