Financial Results : Wafrah cuts net losses to SAR 12.4 mln in 2020

Wafrah cuts net losses to SAR 12.4 mln in 2020

30/03/2021 Argaam Exclusive

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Wafrah for Industry and Development Co. narrowed net loss after Zakat and tax to SAR 12.4 million for 2020, from SAR 25.4 million a year earlier.

 

The company reduced net losses due to a decrease in the cost of sales, an increase of 1.16% year-on-year (YoY) sales, and a decline in the selling, general, administrative and marketing expenses.



Financials (M)

Item 2019 2020 Change‬
Revenues 82.82 83.78 1.2 %
Gross Income 16.76 19.41 15.8 %
Operating Income (10.48) (9.85) 6.0 %
Net Income (25.37) (12.38) 51.2 %
Average Shares 19.70 19.70 -
EPS (Riyals) (1.29) (0.63) 51.2 %

In Q4 2020, the company cut net losses to SAR 10.3 million, from SAR 24.39 million in year-earlier period.

 

Shareholders’ equity, excluding minority interest, dropped 17.64% to SAR 62.34 million in 2020, from SAR 75.70 million a year earlier.

 

The company's accumulated losses reached SAR 14.24 million, representing 18.46% of the paid-in capital amounting SAR 17.17 million.  



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 11.27 21.63 92.0 %
Gross Income (2.56) 1.62 163.1 %
Operating Income (10.09) (7.60) 24.7 %
Net Income (24.39) (10.30) 57.8 %
Average Shares 19.70 19.70 -
EPS (Riyals) (1.24) (0.52) 57.8 %

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