Financial Results : Al-Baha posts SAR 271,000 net profit in Q1 2020

Al-Baha posts SAR 271,000 net profit in Q1 2020

21/06/2020 Argaam Exclusive

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Al-Baha Investment and Development Co. posted a net profit after Zakat and tax of SAR 271,000 for Q1 2020, against a net loss of SAR 686,000 a year earlier. The company was driven by a 14.78% year-on-year rise in revenue, lower general and administrative expenses and lower Zakat provision.

The company turned profitable, from net losses of SAR 4.8 million in Q4 2019, thanks to higher operating profit, lower Zakat provisions and

 

Accumulated losses stood at SAR 40.43 million, or 22.85% of capital by the end of Q1 2020.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 2.40 2.76 14.8 %
Gross Income 1.33 1.67 25.8 %
Operating Income 0.58 0.94 61.6 %
Net Income (0.69) 0.27 139.4 %
Average Shares 2,964.00 2,964.00 -
EPS (Halala) (0.02) 0.01 139.4 %

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