Financial Results : Saudi Cable deepens net loss in Q1 2022 to SAR 37.2 mln

Saudi Cable deepens net loss in Q1 2022 to SAR 37.2 mln

24/05/2022 Argaam Exclusive

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Saudi Cable Co. widened Q1 2022 net loss after Zakat and tax to SAR 37.2 million, from SAR 35.9 million in a year-earlier period, on lower volumes and decreased profit share from associates. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 63.86 35.36 (44.6 %)
Gross Income (17.26) (26.74) (54.9 %)
Operating Income (36.83) (42.07) (14.2 %)
Net Income (35.88) (37.16) (3.5 %)
Average Shares 6.67 6.67 -
EPS (Riyals) (5.38) (5.57) (3.5 %)

On a quarterly basis, the cables producer narrowed Q1 2022 losses from SAR 92.68 million in Q4 2021.

 

Total shareholders’ equity, excluding minority interest, dropped by 74.9% year-on-year (YoY) to SAR 62.575 million as of March 31, 2022.

 

Accumulated losses stood at SAR 195.582 million, or 74.56% of capital, by the end of the three-month period.

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