Financial Results : Knowledge City turns to loss of SAR 5.3 mln in Q1 2020

Knowledge City turns to loss of SAR 5.3 mln in Q1 2020

08/06/2020 Argaam Exclusive

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Knowledge Economic City (KEC) reported a net loss after Zakat and tax of SAR 5.3 million for the first quarter of 2020, compared to a net profit of SAR 19.6 million in the same period last year.

 

The net loss was attributed to decline in revenues.

When compared to previous quarter, net loss after Zakat and tax widened nearly four-fold on lower revenues.

 

Total shareholders' equity (after excluding minority equity) for the current period stood at SAR 3.11 billion in Q1 2020, compared to SAR 3.12 billion in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 82.14 23.19 (71.8 %)
Gross Income 30.01 5.06 (83.1 %)
Operating Income 18.77 (5.37) (128.6 %)
Net Income 19.56 (6.76) (134.5 %)
Average Shares 339.30 339.30 -
EPS (Riyals) 0.06 (0.02) (134.5 %)

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