Financial Results : Al Kathiri turns to losses of SAR 2.1 mln in Q1 2022

Al Kathiri turns to losses of SAR 2.1 mln in Q1 2022

15/05/2022 Argaam Exclusive

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Al Kathiri Holding Co. reported a net loss after Zakat and tax of SAR 2.1 million in Q1 2022 against a net profit after Zakat and tax of SAR 4.2 million a year earlier. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 35.21 25.27 (28.2 %)
Gross Income 9.90 1.03 (89.6 %)
Operating Income 4.50 (1.60) (135.6 %)
Net Income 4.18 (2.06) (149.3 %)
Average Shares 226.04 226.04 -
EPS (Halala) 1.85 (0.91) (149.3 %)

The losses were driven by lower revenues, as well as higher revenue costs and depreciation.

 

Sequentially, losses narrowed from SAR 3.1 million in Q4 2021, thanks to better revenue from the company’s ready-mix concrete segment. 

 

Total shareholders’ equity, excluding minority interest, rose to SAR 131.71 million in Q1 2022, compared to SAR 129.70 million in the year-ago period.

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