Financial Results : SIDC narrows Q1 2023 loss to SAR 660,000

SIDC narrows Q1 2023 loss to SAR 660,000

23/05/2023 Argaam Exclusive

View other reports

Saudi Industrial Development Co. (SIDC) narrowed its net losses to SAR 660,000 in Q1 2023, from SAR 4.8 million in the year-ago period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 41.42 41.73 0.7 %
Gross Income 6.09 11.27 85.1 %
Operating Income (5.97) (2.45) 58.9 %
Net Income (4.80) (0.66) 86.2 %
Average Shares 13.50 13.50 -
EPS (Riyals) (0.36) (0.05) 86.2 %

This was due to higher average selling prices, a decrease in operational losses on lower operating expenses and production costs, as well as the reversal of provision for non-outstanding liabilities. 

  

Meanwhile, the company narrowed Q1 2023 losses from SAR 20.31 million in the previous quarter, due to lower impairment of assets, higher average selling prices, a decrease in operational losses resulting from lower operating expenses and production costs, as well as the reversal of provision for non-outstanding liabilities. 

  

Shareholders’ equity, no minority interest, reached SAR 162.74 million by the end of Q1 2023, compared to SAR 222.14 million in the year-ago period. 

  

Accumulated losses amounted to SAR 63.86 million as of March 31, 2023, representing 15.97% of the company’s capital.  

View More Financial Results

 

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.