Financial Results : SIDC turns to loss of SAR 10 mln in Q1 2020

SIDC turns to loss of SAR 10 mln in Q1 2020

04/06/2020 Argaam Exclusive

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Saudi Industrial Development Co. (SIDC) reported a net loss after Zakat of SAR 10 million for the first quarter of 2020, from a net profit of SAR 3 million, a year earlier.

 

The net loss was attributed to higher operating losses affected by lower sales in addition to realizing non-operating losses.

When compared to previous quarter, net loss after Zakat narrowed over 72-fold on lower operating expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 50.10 40.30 (19.6 %)
Gross Income 8.93 7.84 (12.3 %)
Operating Income (3.23) (4.31) (33.5 %)
Net Income 3.00 (10.02) (434.5 %)
Average Shares 13.50 13.50 -
EPS (Riyals) 0.22 (0.74) (434.5 %)

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