Financial Results : AYYAN incurs loss of SAR 46.6 mln in Q1 2023

AYYAN incurs loss of SAR 46.6 mln in Q1 2023

22/05/2023 Argaam Exclusive

View other reports

AYYAN Investment Co. reported a net loss of SAR 46.6 million in Q1 2023, against a net profit of SAR 13.4 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 75.60 69.19 (8.5 %)
Gross Income 19.13 (11.90) (162.2 %)
Operating Income 1.56 (40.22) (2673.6 %)
Net Income 13.42 (46.65) (447.7 %)
Average Shares 88.35 88.35 -
EPS (Riyals) 0.15 (0.53) (447.7 %)

This was due to lower revenue and higher cost of revenue, along with an increase in general and administrative expenses.

 

The company also cited higher finance costs, a decrease in dividends and a fall in the share of associates' earnings.

 

Meanwhile, the company widened its Q1 2023 loss from SAR 29.71 million in Q4 2022, due to higher general, administrative, and selling expenses, as well as an increase in financing costs.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 689.09 million at the end of Q1 2023, compared to SAR 822.07 million in the prior-year period.

 

Accumulated loss reached SAR 89.62 million, or 11.11% of capital, as of March 31, 2023.

View More Financial Results

 

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.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
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.