Financial Results : Zoujaj turns to losses of SAR 31 mln in FY19

Zoujaj turns to losses of SAR 31 mln in FY19

02/03/2020 Argaam Exclusive

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The National Company For Glass Industries (Zoujaj) reported a net loss after Zakat and tax of SAR 29.9 million for the fiscal year 2019 compared to a net profit of SAR 30.6 million a year earlier.



Financials (M)

Item 2018 2019 Change‬
Revenues 98.67 74.86 (24.1 %)
Gross Income 29.67 5.34 (82.0 %)
Operating Income 18.06 (6.24) (134.5 %)
Net Income 31.74 (31.32) (198.7 %)
Average Shares 32.90 32.90 -
EPS (Riyals) 0.96 (0.95) (198.7 %)

The losses were attributed to lower sales, decrease in associated company profit share and write offs worth SAR 26.9 million on associated company and inventory.

 

The company’s net loss widened to SAR 27.25 million in Q4 2019 versus SAR 1 million in the year earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 20.28 14.91 (26.5 %)
Gross Income 4.70 (0.65) (113.9 %)
Operating Income 3.37 (4.07) (220.6 %)
Net Income 0.14 (27.97) (20663.2 %)
Average Shares 32.90 32.90 -
EPS (Riyals) 0.00 (0.85) (20663.2 %)

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