Financial Results : Sadr Logistics turns to loss of SAR 1.8 mln in Q1 2022

Sadr Logistics turns to loss of SAR 1.8 mln in Q1 2022

19/05/2022 Argaam Exclusive

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Sadr Logistics Co. reported a net loss after Zakat and tax of SAR 1.8 million in Q1 2022, against a net profit of SAR 601,000 a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 14.88 19.77 32.9 %
Gross Income 4.41 3.31 (25.1 %)
Operating Income 0.77 (1.35) (275.9 %)
Net Income 0.60 (1.83) (404.3 %)
Average Shares 153.96 175.00 13.7 %
EPS (Riyals) 0.00 (0.01) (367.7 %)

The losses were attributed to an increase in the cost of sales, selling and marketing expenses,general and administrative expenses as well as Zakat provision.

 

This was despite an increase in investments and other income.

 

When compared to the previous quarter, the company turned to a loss from a profit of SAR 81,000.

 

Total shareholders’ equity, after minority interest, stood at SAR 181.041 million at the end of Q1 2022, compared to SAR 34.948 million a year before.

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