Financial Results : Kingdom Holding incurs SAR 50.1 mln losses in Q1 2020

Kingdom Holding incurs SAR 50.1 mln losses in Q1 2020

22/06/2020 Argaam Exclusive

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Kingdom Holding Co. (KHC) sustained a net loss after Zakat and tax of SAR 50.1 million for Q1 2020, against a net profit of SAR 171.4 million a year earlier.

 

The losses were attributed to a drop in investment gains, as well as hotels and other operating revenues.

 

Moreover, a decrease in the KHC’s share from equity-accounted affiliates also weighed on the quarterly results.

The company also swung to losses from a net profit of SAR 18.3 million in Q4 2019, due to a decrease in investments gains, as well as in hotels and other operating revenues. Higher hotel and other operating costs also led the company to incur losses.

 

Total shareholders’ equity, after minority interest, fell by 16.14% to SAR 26.4 million in Q1 2020, from SAR 31.4 million in year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 411.67 333.47 (19.0 %)
Gross Income 109.64 71.69 (34.6 %)
Operating Income (72.75) (32.81) 54.9 %
Net Income 244.16 (50.11) (120.5 %)
Average Shares 3,705.88 3,705.88 -
EPS (Riyals) 0.07 (0.01) (120.5 %)

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