Sadr Logistics Co. reported a net loss after Zakat and tax of SAR 5.4 million for the first nine months of 2022, against a net profit of SAR 3.5 million in the same period last year.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 51.99 | 69.80 | 34.3 % |
| Gross Income | 17.69 | 10.14 | (42.7 %) |
| Operating Income | 4.89 | (3.35) | (168.5 %) |
| Net Income | 3.52 | (5.44) | (254.8 %) |
| Average Shares | 153.96 | 175.00 | 13.7 % |
| EPS (Riyals) | 0.02 | (0.03) | (236.2 %) |
The company cited higher cost of sales as well as an increase in selling and marketing expenses on higher sales, and a rise in general and administrative expenses on higher salaries. However, sales increased, investment income and other revenues rose, while debt provisions and finance charges declined.
The company reported a net loss after Zakat and tax of SAR 2.6 million for Q3 2022, versus a net profit after Zakat and tax of SAR 2.6 million a year before, mainly due to higher cost of sales as well as an increase in selling and marketing expenses and general and administrative expenses.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 21.03 | 33.56 | 59.5 % |
| Gross Income | 9.25 | 3.61 | (61.0 %) |
| Operating Income | 3.41 | (1.25) | (136.6 %) |
| Net Income | 2.67 | (2.62) | (198.1 %) |
| Average Shares | 153.96 | 175.00 | 13.7 % |
| EPS (Riyals) | 0.02 | (0.01) | (186.3 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 16.48 | 33.56 | 103.6 % |
| Gross Income | 3.22 | 3.61 | 12.0 % |
| Operating Income | (0.75) | (1.25) | (65.9 %) |
| Net Income | (1.00) | (2.62) | (163.2 %) |
| Average Shares | 175.00 | 175.00 | - |
| EPS (Riyals) | (0.01) | (0.01) | (163.2 %) |
On a sequential basis, the company narrowed Q3 2022 net losses from SAR 1 million.
Shareholders’ equity, no minority interest, reached SAR 177.426 million as of Sept. 30, 2022, from SAR 36.615 million a year earlier.
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