Financial Results : Knowledge City deepens 9M 2022 loss to SAR 10.7 mln; Q3 profit at SAR 4.6 mln

Knowledge City deepens 9M 2022 loss to SAR 10.7 mln; Q3 profit at SAR 4.6 mln

08/11/2022 Argaam Exclusive

View other reports

Knowledge Economic City (Knowledge City) widened net losses after Zakat and tax to SAR 10.7 million in the first nine months of 2022, from SAR 2.6 million in the year-earlier period.

 

The company widened its net loss due to other income resulting from liquidation of a letter of guarantee of a contractor amounting to SAR 25.8 million. This came despite the increase in gross profit due to higher sales.



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 33.51 39.58 18.1 %
Gross Income 8.68 13.09 50.9 %
Operating Income (24.70) (26.94) (9.1 %)
Net Income (2.58) (10.74) (317.0 %)
Average Shares 339.30 339.30 -
EPS (Riyals) (0.01) (0.03) (317.0 %)

In Q3 2022, the company turned to a net profit after Zakat and tax of SAR 4.6 million, against a net loss after Zakat and tax of SAR 2.5 million in Q3 2021, on higher sales and realizing income from derivative instruments.

 

Compared to Q2 2022, Knowledge City turned to profit against a loss of SAR 8.6 million.



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 1.50 10.16 579.3 %
Gross Income 0.08 3.70 4701.3 %
Operating Income (12.25) (9.01) 26.5 %
Net Income (2.50) 4.63 285.0 %
Average Shares 339.30 339.30 -
EPS (Riyals) (0.01) 0.01 285.0 %

Total shareholders’ equity, excluding minority interest, dropped to SAR 3.065 billion as of Sept. 30, 2022, from SAR 3.096 billion a year earlier.

 

Accumulated losses stood at SAR 327.615 million by the end of the nine-month period, representing 9.66% of the company’s capital.

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.


Comments {{getCommentCount()}}

Be the first to comment

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