Al-Baha trims FY2019 losses to SAR 5 mln

27/04/2020 Argaam Exclusive

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Al-Baha Investment and Development Co. narrowed net losses after Zakat and tax by 50.69% year-on-year (YoY) to SAR 5 million for FY ending Dec. 31, 2019.

Trimming losses was driven by Zakat settlements for the period 2000-2010, which were recorded in financial statements for FY2018, despite offloading some equipment and machinery at a total value of SAR 8.049 million.

Financials (M)

Item	2018	2019	Change‬
Revenues	9.68	10.44	7.8 %
Gross Income	4.80	5.68	18.4 %
Operating Income	2.23	2.22	(0.4 %)
Net Income	(11.33)	(5.33)	53.0 %
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	(0.38)	(0.18)	53.0 %

Al-Baha reported SAR 4.6 million losses in Q4 2019, versus net profit of SAR 1.08 million in year-earlier period.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	1.50	2.74	82.4 %
Gross Income	0.80	1.22	52.6 %
Operating Income	0.24	0.21	(10.8 %)
Net Income	(0.02)	(4.86)	(26,877.8 %)
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	0.00	(0.16)	(26,877.8 %)

Item	Q3 2019	Q4 2019	Change‬
Revenues	2.84	2.74	(3.6 %)
Gross Income	1.73	1.22	(29.1 %)
Operating Income	0.85	0.21	(74.7 %)
Net Income	0.13	(4.86)	(3954.0 %)
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	0.00	(0.16)	(3954.0 %)

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