Saudi Cable Co. swung to a net loss of SAR 4.9 million in Q1 2024 from a profit of SAR 40.9 million a year earlier.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 11.72 | 12.57 | 7.3 % |
| Gross Income | (18.08) | (10.60) | 41.4 % |
| Operating Income | 4.32 | (36.64) | (948.8 %) |
| Net Income | 40.90 | (4.85) | (111.8 %) |
| Average Shares | 6.67 | 6.67 | - |
| EPS (Riyals) | 6.13 | (0.73) | (111.8 %) |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 11.62 | 12.57 | 8.2 % |
| Gross Income | (17.13) | (10.60) | 38.1 % |
| Operating Income | (25.66) | (36.64) | (42.8 %) |
| Net Income | 2.36 | (4.85) | (305.6 %) |
| Average Shares | 6.67 | 6.67 | - |
| EPS (Riyals) | 0.35 | (0.73) | (305.6 %) |
The company attributed Q1 2024 losses to operational losses and increased costs of financial and legal advisors preparing the financial regulation file.
Last year’s Zakat reduction, through the SAR 41 million settlement, was one of the factors that most affected net profit in Q1 2023.
Compared to Q4 2023, the company swung to losses from a net profit of SAR 3.03 million, mainly due to net losses of SAR 2.29 billion from non-continuing activities from the subsidiary’s business in Turkey.
Shareholders’ equity, no minority interest, reached SAR 460.98 million at the end of Q1 2024, compared to SAR 456.48 million in the year-earlier period.
Accumulated losses stood at SAR 511.61 million, or 766.7% of the company's capital.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}