Financial Results : Al-Baha trims FY2019 losses to SAR 5 mln

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 %)

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