Financial Results : Zoujaj widens loss to SAR 5.1 mln in 9M 2020

Zoujaj widens loss to SAR 5.1 mln in 9M 2020

21/10/2020 Argaam Exclusive

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The National Company for Glass Industries (Zoujaj) widened net loss after Zakat and tax to SAR 5.1 million in the first nine months of 2020, compared to a loss of SAR 3.3 million in the same period last year.

 

The decline was driven by lower profit share from associate and weak operating profit due to the fallout of COVID-19 pandemic.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 59.95 57.35 (4.3 %)
Gross Income 6.00 3.48 (41.9 %)
Operating Income (2.17) (4.32) (99.1 %)
Net Income (3.36) (5.15) (53.4 %)
Average Shares 32.90 32.90 -
EPS (Riyals) (0.10) (0.16) (53.4 %)

The third-quarter net profit after Zakat and tax stood at SAR 2.6 million, versus net losses of SAR 6.57 million in year-earlier period, thanks to lower operating loss, higher sales, decreased cost of sales and higher profit share from associate.

 

When compared to previous quarter, Zoujaj turned to profit in Q3 from SAR 10.1 million loss in Q2 2020.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 13.58 16.22 19.4 %
Gross Income (2.73) 0.10 103.6 %
Operating Income (5.22) (2.81) 46.2 %
Net Income (6.57) 2.64 140.1 %
Average Shares 32.90 32.90 -
EPS (Riyals) (0.20) 0.08 140.1 %

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