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.
| 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 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 31.85 | 35.36 | 11.0 % |
| Gross Income | (14.18) | (26.74) | (88.6 %) |
| Operating Income | (32.64) | (42.07) | (28.9 %) |
| Net Income | (92.68) | (37.16) | 59.9 % |
| Average Shares | 6.67 | 6.67 | - |
| EPS (Riyals) | (13.89) | (5.57) | 59.9 % |
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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